STR: Middle East and Africa hotel performance for October 2018
Hotels in the Middle East reported October 2018 performance declines, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, October 2018 vs. October 2017
Occupancy: -1.6% to 63.8%
Average daily rate (ADR): -7.0% to US$151.11
Revenue per available room (RevPAR): -8.5% to US$96.46
Occupancy: +5.9% to 66.0%
Average daily rate (ADR): +8.2% to US$119.72
Revenue per available room (RevPAR): +14.5% to US$79.02
Local currency, October 2018 vs. October 2017
Occupancy: +18.8% to 78.0%
ADR: +9.0% to EGP1,578.77
RevPAR: +29.5% to EGP1,231.76
The absolute levels in each of the three key performance metrics were the highest for any October in STR’s database for the Cairo and Giza combined market. October also continued a trend of significant year-over-year performance increases in the market. STR analysts attribute this continued growth to further performance recovery and increased tourism aided by resumed flights with Russia as well as government campaigns to boost the attractiveness of the destination. At the same time, the market’s hotels have benefitted from a lack of supply growth.
Occupancy: +23.5% to 66.3%
ADR: -11.1% to QAR265.86
RevPAR: +9.8% to QAR176.14
The absolute occupancy level was the highest for an October in Doha since 2015. According to STR analysts, the occupancy performance was due to the combination of slowing supply growth and strong demand, especially around the Artistic Gymnastics World Championships (25 October through 3 November).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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