- Cairo and Giza hotels report best October on record
- Doha occupancy jumps with boost from Artistic Gymnastics World Championships
Hotels in the Middle East reported October 2018 performance declines, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, October 2018 vs. October 2017
Occupancy: -1.6% to 63.8%
Average daily rate (ADR): -7.0% to US$151.11
Revenue per available room (RevPAR): -8.5% to US$96.46
Occupancy: +5.9% to 66.0%
Average daily rate (ADR): +8.2% to US$119.72
Revenue per available room (RevPAR): +14.5% to US$79.02
Local currency, October 2018 vs. October 2017
Occupancy: +18.8% to 78.0%
ADR: +9.0% to EGP1,578.77
RevPAR: +29.5% to EGP1,231.76
The absolute levels in each of the three key performance metrics were the highest for any October in STRs database for the Cairo and Giza combined market. October also continued a trend of significant year-over-year performance increases in the market. STR analysts attribute this continued growth to further performance recovery and increased tourism aided by resumed flights with Russia as well as government campaigns to boost the attractiveness of the destination. At the same time, the markets hotels have benefitted from a lack of supply growth.
Occupancy: +23.5% to 66.3%
ADR: -11.1% to QAR265.86
RevPAR: +9.8% to QAR176.14
The absolute occupancy level was the highest for an October in Doha since 2015. According to STR analysts, the occupancy performance was due to the combination of slowing supply growth and strong demand, especially around the Artistic Gymnastics World Championships (25 October through 3 November).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Logos, product and company names mentioned are the property of their respective owners.