Middle East's hotels record occupancy increase in February 2019
Additionally, STR data revealed that Sharm El-Sheikh has recaptured hotel demand in February 2019
Hotels in the Middle East saw occupancy increase by 3.3% to 72.2% as ADR dropped 6.3% to US$150.13 and RevPAR declined 3.3% to $108.38, according to data by STR.
However, hotels in Africa occupancy rose 2.2% to 61.9%, ADR increased 4.3% to $117.42 and RevPAR climbed 6.6% to $72.67.
Looking specifically at Sharm el-Sheikh in Egypt, the city has continued to recapture hotel demand (room nights sold), noted STR, due to the the reinstatement of flights from most airlines that had issued bans following the terror attack of late 2015. Including a 32.5% increase in February, demand has grown by double digits in the market for 21 of 26 months since the beginning of 2017. Consequently occupancy increased by 32.5% to 47.7%, while both ADR and RevPAR was boosted significantly - the former rising 66.7% to EGP 1,273.94 ($74), and the latter showing a 121% increase to EGP 608.20 ($35). The market’s absolute ADR value was its highest for a February and the second-highest for any month all-time behind only August 2018.
Meanwhile, in the Levant region, Beirut's hotels reported its occupancy increasing by 4.6% to 55.7%. ADR rose by 8.3% to LBP 224,190.36 ($149), while RevPAR was recorded as LBP 124,819.52 (a 13.3% increase). The absolute RevPAR level was the highest for a February in Beirut since 2012. According to STR analysts, Beirut is rebounding from the below average ADR and RevPAR levels recorded early in 2018.