Beirut hotel room value up by 38%
Hotel values are forecast to grow in light of the ease of GCC travel ban to Lebanon, says HVS
The value of Beirut hotel rooms grew 38% last year, according to the report Hotel Valuation Index Middle East conducted by HVS Middle East, Africa & South Asia.
Despite the limited new hotel supply in the market when compared to other major cities in the Middle East, the anticipated rise in tourist arrivals and the ease of GCC travel ban to Lebanon, “HVS outlook remains positive and hotel values are forecasted to grow,” the report revealed.
Reportedly, the growth in Beirut’s room value was due to an improvement in revenues per available Room (RevPAR), and a four-percentage-point increase in the net operating profit margin.
Hotelier Middle East recently reported how Hilton Lebanon celebrated the group's 100th anniversary through a CSR initiative that saw it clean Beirut’s “only” public beach.