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Mixed Results for Hotel Industry in the Middle East for October 2017 - African Hoteliers Report Growth

Column: industry Tag: STR,Hotel Industry,Middle East Published: 2017-11-24 16:20 Source: Author:

　　Hotels in the Middle East reported mixed performance results during October 2017, while hotels in Africa posted growth across the three key performance indicators, according to data from STR.

　　U.S. dollar constant currency, October 2017 vs. October 2016

　　Middle East

　　·Occupancy: +3.3% to 64.9%

　　·Average daily rate (ADR): -4.0% to US$163.27

　　·Revenue per available room (RevPAR): -0.8% to US$106.04

　　Africa

　　· Occupancy: +7.6% to 62.5%

　　· Average daily rate (ADR): +8.4% to US$105.89

　　· Revenue per available room (RevPAR): +16.7% to US$66.14

　　Local currency, October 2017 vs. October 2016

　　Bahrain

　　· Occupancy: +9.2% to 49.2%

　　· ADR: -8.2% to BHD58.71

　　· RevPAR: +0.2% to BHD28.86

　　STR analysts note that the year-over-year increase in occupancy came in comparison with a low base from October 2016. The country’s absolute occupancy level was helped by a pair of events in Manama: the Federation of Afro-Asian Insurers and Reinsurers 25th Conference (9-11 October) and the Bahrain International Defence Exhibition and Conference (16-18 October). The absolute ADR level was the lowest for an October in Bahrain since 2006.

　　Egypt

　　· Occupancy: +32.0% to 57.0%

　　· ADR: +73.6% to EGP1,151.26

　　· RevPAR: +129.3% to EGP656.07

　　The devaluation of the Egyptian pound led to the highest October ADR value on record for the country. Occupancy growth was inflated by a comparison with Egypt’s second-worst October occupancy month on record (43.2% in 2016). The country continues to recover from security concerns, and demand (roomnights sold) has grown by double digits in nine of 10 months in 2017.

　　Kenya

　　· Occupancy: -26.4% to 40.7%

　　· ADR: -10.7% to KES11,937.82

　　· RevPAR: -34.2% to KES4,861.17

　　The absolute occupancy level was the lowest for any October on record, while ADR fell in line with recent trends. According to STR analysts, political struggles in the country have taken their toll on hotel demand (roomnights sold), and the steepest daily RevPAR declines occurred on the days around the election (26 October).

　　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.

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