Friday 30 September 2022

ME hotel occupancy, rates down in February

LONDON, March 22, 2018

February seemed unfavourable for the Middle East hospitality sector as hotels reported negative performance results during the month, new data revealed.

According to data from STR, occupancy levels in the Middle East slipped 0.7 per cent to 70.5 per cent, with average daily rate (ADR) declining 2.5 per cent to $150.47. Revenue per available room (RevPAR) dropped by 8.2 per cent to $96.88.

In the region, Oman, however, witnessed significant growth across the three performance metrics, with occupancy going up 4.0 per cent to 73.7 per cent and ADR climbing 1.7 per cent to RO174.85 ($453.4). RevPAR soared 5.8 per cent to RO128.87 ($334.1).

Hotels in Africa also posted growth across the three key performance metrics in February, recording a rise of 3.8 per cent to 61.0 per cent in occupancy rates, with ADR and RevPAR ascending rapidly as well. ADR was recorded at$125.04, up 7.3 per cent, while RevPAR climbed 11.4 per cent to $76.26.

In the region, Kenya posted favourable rates, recording a 2.8 per cent climb in occupancy rates to 55.3 per cent. RevPAR also increased slightly, moving up 0.7 per cent to KED73.17 ($0.7), but ADR took a hit, dropping 2.0 per cent to KES132.20 ($1.29).

STR analysts credit demand (room nights sold) and occupancy growth in the country to further time removed from major political and security instability. However, the February occupancy level remained well below the historical average in the country. Supply growth (up 3.4 per cent) likely played a role in in the year-over-year ADR decrease. - TradeArabia News Service

Tags: hotel | Africa | Rates | Occupancy | February | Middle | East |

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