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STR: Middle East and Africa hotel performance for January 2018

February 27, 2018 Hotel Trends No Comments Email Email

Hotels in the Middle East reported mixed January 2018 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.http://www.lagunaphuket.com/foodandmusicfestival/

U.S. dollar constant currency, January 2018 vs. January 2017

Middle East

  • Occupancy: +1.9% to 69.1%
  • Average daily rate (ADR): -3.4% to US$170.28
  • Revenue per available room (RevPAR): -1.6% to US$117.75

Africa

  • Occupancy: +5.7% to 53.4%
  • Average daily rate (ADR): +2.6% to US$126.55
  • Revenue per available room (RevPAR): +8.4% to US$67.54

Local currency, January 2018 vs. January 2017

Morocco

  • Occupancy: +16.3% to 54.1%
  • Average daily rate (ADR): +28.5% to MAD129.16
  • Revenue per available room (RevPAR): +49.5% to MAD69.90

The year-over-year increase in RevPAR was the first for a January in Morocco since 2014. STR analysts attribute a spike in demand (+16.1%) to the FIA Formula E Championship race in Marrakech as well as Marrakech Marathon.

Nigeria

  • Occupancy: +8.6% to 41.4%
  • ADR: -11.2% to NGN136.09
  • RevPAR: -3.6% to NGN56.38

STR analysts note that Nigeria’s hotel industry continues to be affected by a poor reputation around security concerns in the country. Regardless, the 8.6% year-over-year lift in occupancy was the country’s highest for any January since 2013.

Saudi Arabia

  • Occupancy: +6.4% to 59.5%
  • ADR: -5.2% to SAR566.34
  • RevPAR: +0.9% to SAR336.70

The January school holiday, which fell primarily in February last year, pushed a 16.4% rise in demand. Both occupancy and ADR levels continue to be pressured by supply growth, which rose to 9.3% for the month. As STR reported last week, Saudi Arabia’s hotel development pipeline represents 76% of the existing room supply in the country. However, STR analysts stress the importance of considering the long-term investments being made in tourism and hospitality as part of Vision 2030.

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