Analyst spies Maldivian room occupancy turnaround

Room occupancy within the Maldives was found to have risen by 17 percent last year compared to figures recorded in 2009, representing a solid turnaround from the “poor market conditions” of two years ago, data analyst STR Global has said.

Based on figures supplied by the Maldives’ Ministry of Tourism, Arts and Culture, the analyst said that the number of tourist rooms being filled in the country last year was said to be down by only 0.7 percent on 2008, where conditions were not yet impacted by global economic uncertainty.

Demand from European tourist remained the key driver for market growth, with the STR Global findings claiming that 63.5 percent of tourist arrivals between January to November last year were from the region; the findings were based on official tourism figures.

According to the analyst, in terms of calculating the average daily rate – used to record sales of available room rates – increased occupancy numbers were not thought to have yet helped sales catch up on 2008 and 2009 levels.

In local currency terms, the average daily rate was found to be down by 17 percent on 2009 and 26.8 percent when compared to 2008.

However, STR Global Managing Director Elizabeth Randall, claimed that an apparent gradual slowdown in growing room supply in the country was expected to help strengthen demand.

“In the long run, this will give hoteliers the chance to improve rates,” she stated.

The findings were said to be based on the performance of 25 properties within the Maldives.