Occupancy rates in hotels were down by 17 percent year on year in Q1 2014, according to the March 2014 Middle East Hotel Benchmark Survey Report by Ernst & Young.

The hotel benchmark report provides a monthly performance overview of leading hotels in the Middle East. The hotel set includes international branded and locally operated properties across the 5-star and 4-star segments.

Room rates have maintained resilience despite the low occupancy rates. The report said that the average room rate was $156 during this phase, dropping only by seven percent. Room yields have witnessed one of the sharpest drops, down by 34 percent.

The Ministry of Tourism (MoT) has announced a list of packages to attract tourists in the coming summer season. Minister Michel Pharaon said that it is about time to see the return of Gulf tourists. He said that the country regained its security stability with the new Cabinet formation and this increased the expectation for a better summer season. Prime Minister Tammam Salam and Minister Pharaon will visit Saudi Arabia today, a few days after information about the end of the Saudi travel ban has been leaked.