Global Travel Media » Blog Archive » STR: Middle East and Africa hotel performance for February 2019

Home » Hotel Trends » Currently Reading:

STR: Middle East and Africa hotel performance for February 2019

March 26, 2019 Hotel Trends No Comments Email Email

Hotels in the Middle East reported mixed February 2019 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.http://www.stevecafeandcuisine.com/

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

Middle East

  • Occupancy: +3.3% to 72.2%
  • Average daily rate (ADR): -6.3% to US$150.13
  • Revenue per available room (RevPAR): -3.3% to US$108.38

Africa

  • Occupancy: +2.2% to 61.9%
  • Average daily rate (ADR): +4.3% to US$117.42
  • Revenue per available room (RevPAR): +6.6% to US$72.67

Local currency, February 2019 vs. February 2018

Beirut

  • Occupancy: +4.6% 55.7%
  • ADR: +8.3% to LBP224,190.36
  • RevPAR: +13.3% to LBP124,819.52

The absolute RevPAR level was the highest for a February in Beirut since 2012, and the double-digit increase in the metric was the market’s fourth straight dating back to November of last year. According to STR analysts, Beirut is rebounding from the below average ADR and RevPAR levels recorded early in 2018.

Sharm el-Sheikh, Egypt

  • Occupancy: +32.5% to 47.7%
  • ADR: +66.7% to EGP1,273.94
  • RevPAR: +121.0% to EGP608.20

STR analysts note that Sharm el-Sheikh continues to recapture hotel demand (room nights sold) thanks to the reinstatement of flights from most airlines that had issued bans following the terror attack of late 2015. Including a 32.5% increase in February, demand has grown by double digits in the market for 21 of 26 months since the beginning of 2017. Subsequently, hoteliers have been able to push room rates. The market’s absolute ADR value was its highest for a February and the second-highest for any month all-time behind only August 2018.

Comment on this Article:







Time limit is exhausted. Please reload CAPTCHA.

Platinium Partnership

ADVERTISEMENTS

Elite Partnership Sponsors

ADVERTISEMENTS

Premier Partnership Sponsors

ADVERTISEMENTS

Official Media Event Partner

ADVERTISEMENTS

Global travel media endorses the following travel Publication

ADVERTISEMENTS

GLOBAL TRAVEL MEDIA VIDEOS

Advertisements

sitemap