Hotels in the Middle East reported mixed July 2018 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, July 2018 vs. July 2017
• Occupancy: +5.8% to 59.0%
• Average daily rate (ADR): -5.8% to US$125.07
• Revenue per available room (RevPAR): -0.3% to US$73.82
• Occupancy: +2.5% to 62.0%
• Average daily rate (ADR): +11.7% to US$112.95
• Revenue per available room (RevPAR): +14.6% to US$70.05
Local currency, July 2018 vs. July 2017
Jeddah, Saudi Arabia
• Occupancy: +12.4% to 76.6%
• ADR: +15.5% to SAR1,363.71
• RevPAR: +29.8% to SAR1,044.31
The absolute occupancy level in Jeddah was the highest for any July since 2012, while ADR was the highest on record for the month. STR analysts cite group business (bookings of 10 rooms or more) as a reason behind the strong performance in the market.
Sharm El Sheikh, Egypt
• Occupancy: +1.8% to 62.5%
• ADR: +42.7% to EGP1,106.67
• RevPAR: +45.4% to EGP691.78
Both the absolute ADR and RevPAR levels were the highest for any July in STR’s database for the market. When examining different days of the month, STR analysts note that 30 and 31 July produced RevPAR growth of 112.3% and 106.9%, respectively.
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