Middle East and Africa hotel performance for August 2019 ·

Middle East and Africa hotel performance for August 2019

Hotels in the Middle East reported negative August 2019 performance results, while hotels in Africa posted increases across the three key performance metrics, according to data from STR.

U.S. dollar constant currency, August 2019 vs. August 2018

Middle East

Occupancy: -0.6% to 63.1%
Average daily rate (ADR): -6.8% to US$158.79
Revenue per available room (RevPAR): -7.3% to US$100.23

Africa

Occupancy: +0.3% to 63.2%
Average daily rate (ADR): +3.4% to US$109.54
Revenue per available room (RevPAR): +3.7% to US$69.25
Local currency, August 2019 vs. August 2018

Abu Dhabi

Occupancy: +3.9% to 67.1%
ADR: -0.9% to AED324.61
RevPAR: +3.0% to AED217.73

The absolute occupancy level was the highest for an August in the market since 2015. STR analysts note that the largest ADR and RevPAR increases occurred during Eid al-Adha (11-13 August). According to STR’s market forecast, Abu Dhabi is expected to see further RevPAR growth for 2019 overall.

Beirut, Lebanon

Occupancy: +3.8% to 71.4%
ADR: +13.1% to LBP289,435.32
RevPAR: +17.4% to LBP206,641.09

The absolute occupancy and RevPAR levels were the highest for an August in Beirut since 2009, while the ADR level was the highest for the month since 2011. STR analysts note that Beirut hotel performance is rebounding after the travel ban from Saudi Arabia was revoked earlier this year. Analysts highlight that demand (+7.0%) in August outpaced supply (+3.0%), and this is a trend likely to continue as supply growth is expected to remain muted. There are no active pipeline projects in the market, according to STR’s AM:PM database. 
 
About STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.

Source: Read Full Article