STR: Middle East and Africa hotel performance for February 2018

STR

STR: Middle East and Africa hotel performance for February 2018

STR: Middle East and Africa hotel performance for February 2018

Key February Takeaways:

  • Kenya performance improves, but remains below historical average
  • Lebanon February rates increase for first time since 2015
  • Oman demand reaches all-time high for February

STR’s sample comprises more than 59,000 hotels and nearly 8.0 million hotel rooms around the globe. Contact media@str.com for additional market data.

Hotels in the Middle East reported negative February 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, February 2018 vs. February 2017

Middle East

  • Occupancy: -0.7 percent to 70.5 percent
  • Average daily rate (ADR): -7.3 percent to US$161.96
  • Revenue per available room (RevPAR): -7.9 percent to US$114.26

Africa

  • Occupancy: +3.8 percent to 61.0 percent
  • Average daily rate (ADR): +7.3 percent to US$125.04
  • Revenue per available room (RevPAR): +11.4 percent to US$76.26

Local currency, February 2018 vs. February 2017

Kenya

  • Occupancy: +2.8 percent to 55.3 percent
  • Average daily rate (ADR): -2.0 percent to KES132.20
  • Revenue per available room (RevPAR): +0.7 percent to KES73.17

STR analysts credit demand (room nights sold) and occupancy growth in the country to further time removed from major political and security instability. However, the February occupancy level remained well below the historical average in the country. Supply growth (+3.4 percent) likely played a role in in the year-over-year ADR decrease.

Lebanon

  • Occupancy: -0.5 percent to 51.7 percent
  • ADR: +2.5 percent to LBP149.81
  • RevPAR: +2.0 percent to LBP77.53

The increase in ADR was the first for a February in Lebanon since 2015. According to STR analysts, security concerns continue to weigh on the country’s hotel performance. Demand, down 0.4 percent in February, has dropped year-over-year for four straight months. At the same time, supply growth has been minimal.

Oman

  • Occupancy: +4.0 percent to 73.7 percent
  • ADR: +1.7 percent to OMR174.85
  • RevPAR: +5.8 percent to OMR128.87

Demand reached an all-time high for a February in Oman. ADR has now increased for two consecutive months in the country after three straight years of mostly ADR declines.

Source = STR
Pin It

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>