Hotels in the Middle East reported mixed 2019 performance results, while hotels in Africa posted positive results across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, 2019 vs. 2018
• Occupancy: +2.3% to 66.2%
• Average daily rate (ADR): -7.2% to US$143.70
• Revenue per available room (RevPAR): -5.1% to US$95.09
• Occupancy: +1.1% to 61.3%
• Average daily rate (ADR): +1.5% to US$109.33
• Revenue per available room (RevPAR): +2.6% to US$67.01
Local Currency, 2019 vs 2018
• Occupancy: -8.6% to 53.4%
• ADR: +6.9% to LBP245,325.04
• RevPAR: -2.3% to LBP131,066.36
While Beirut recorded its highest Q1 RevPAR level (LBP128,581.91) since 2012, the Q4 level in the metric (LBP60,847.25) was the lowest for any fourth quarter in STR’s Beirut database. STR analysts note that protests and subsuquent political turmoil in Lebanon negatively affected performance near the end of the year and pulled down total-year numbers in the market. November and December RevPAR dropped significantly, -75.7% and -68.0%, respectively.
Sharm El Sheikh, Egypt
• Occupancy: +10.3% to 60.0%
• ADR: +9.9% to EGP1,196.18
• RevPAR: +21.2% to EGP717.73
Occupancy in Sharm El Sheikh has grown for 31 consecutive months. STR analysts note that double-digit demand growth (+10.3%) was coupled with flat supply comparisons, continuing the consistent occupancy growth and lifting pricing confidence.
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