Beirut hotels see mixed results in 2019, Sharm El Sheikh records positive growth
Beirut recorded a drop in occupancy, RevPAR
According to data by STR, hotels in Beirut, Lebanon and Sharm El Sheikh, Egypt witnessed mixed results in 2019.
Hotels in Beirut witnessed a drop in occupancy and RevPAR. While occupancy dropped by 8.6% to 53.4%, while RevPAR dropped by 2.3% to LBP131,066.36 ($86.94). ADR however rose by 6.9% to LBP 245,325.04 (US$162.73).
According to STR, Beirut recorded its highest Q1 RevPAR level LBP 128,581.91 ($85.29) since 2012, the Q4 level in the metric LBP 60,847.25 ($40.36) was the lowest for any fourth quarter in STR’s Beirut database.
STR analysts revealed that protests and subsequent 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
Hotels in Sharm El Sheikh, Egypt witnessed a good year.
Occupancy rose by 10.3% to 60.0%, while ADR rose by 9.9% to EGP1,196.18 ($75.68). Meanwhile RevPAR recorded a growth of 21.2% to EGP 717.73 ($45.41).
According to analysts, occupancy in Sharm El Sheikh has grown for 31 consecutive months. Officials noted that double-digit demand growth (10.3%) was coupled with flat supply comparisons, continuing the consistent occupancy growth and lifting pricing confidence.