Thursday, December 21, 2017

ME hotels show negative results for November

Hotels in the Middle East reported negative performance results during November 2017, while hotels in Africa posted growth across the three key performance indicators, according to STR, a provider of analytics and marketplace insights.

Occupancy in Middle East hotels decreased 1.8 percentage points to 69.6 per cent during the month. Average daily rate (ADR) declined 4.6 per cent to $171.10 while revenue per available room (RevPAR) dropped 6.3 per cent to $119.01.

STR analysts note that consistent declines in RevPAR over the past two years correlates with the drop in oil prices. Qatar, Bahrain and Saudi Arabia have experienced the steepest performance decreases in 2017, and all have been significantly affected by reduced corporate business.

Africa

Occupancy in African hotels was up by 8.7 percentage points to 64.3 per cent. ADR grew by 0.9 per cent to $106.73 and RevPAR surged 9.7 per cent to $68.66.

Northern Africa drove demand and occupancy growth for the region, with increases of 26 per cent and 25.2 per cent, respectively. Egypt helped that performance with continued high occupancy growth (+39.3 per cent). ADR decreased in Northern Africa (-4.0 per cent), which was in part due to decreases in Morocco (-8.5 per cent) and Tunisia (-2.0 per cent).

ADR in the Southern Africa region grew 4.7 per cent, pushing RevPAR up 4.9 per cent. While occupancy only grew 0.1 per cent, the 68.6 per cent absolute occupancy is the region’s highest occupancy for a November since 2008. – TradeArabia News Service



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