Hotels in the Middle East reported negative results during July 2017, while hotels in Africa recorded growth across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, July 2017 vs. July 2016
- Occupancy: -2.8% to 56.1%
- Average daily rate (ADR): -16.1% to US$134.00
- Revenue per available room (RevPAR): -18.4% to US$75.20
- Occupancy: +6.9% to 60.7%
- Average daily rate (ADR): +9.3% to US$97.81
- Revenue per available room (RevPAR): +16.8% to US$59.34
Local currency, July 2017 vs. July 2016
- Occupancy: -1.0% to 49.3%
- Average daily rate (ADR): -11.5% to BHD64.91
- Revenue per available room (RevPAR): -12.4% to BHD32.03
Following performance increases in June boosted by post-Ramadan celebrations, Bahrain hotels saw sharp declines in July. Those decreases fell more in line with recent trends in the country, as RevPAR through July was down 6.9% compared with the first seven months of 2016.
- Occupancy: +12.1% to 47.9%
- ADR: +5.8% to NGN48,490.15
- RevPAR: +18.5% to NGN23,230.78
July was Nigeria’s strongest month thus far in 2017 thanks to a 16.7% increase in demand. According to STR analysts, strong events business in Lagos boosted occupancy and rate growth. Group (bookings of 10 or more rooms) RevPAR in the country rose 58.3% during the month.
- Occupancy: -5.2% to 48.0%
- ADR: -31.6% to SAR625.78
- RevPAR: -35.2% to SAR300.14
Saudi Arabia’s performance declines followed a weak first half of 2017, and July year-to-date RevPAR is down 15.1%. STR analysts note that although the country’s hotel performance is typically lower during the summer months, the double-digit declines for July 2017 reflect the impacts of low oil prices and high hotel supply growth.
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.