Egypt tourism revival boosts Marriott in Q3

Marriott International saw double-digit RevPAR growth in the third quarter of 2014 across the Middle East and Africa region, driven by an uptick in business in Egypt.

In the three months to the end of September, the company’s RevPAR increased by 15% year-on-year to US $88.59, while occupancy was up 9.6 percentage points to 54%. Average daily rates were down 5.5% to US $164.13.

Speaking during an earnings call after the results were released, Marriott International CFO and executive vice president Carl Berquist said: “In the Middle East, with greater political stability, travel is returning to Egypt.