Africa hotel RevPAR on the rise for 87th consecutive month
ADR, occupancy rates too have witnessed a growth
The revenue per available room (RevPAR) for Africa’s hotel supply has been on the rise for the 87th consecutive month, STR’s director Thomas Emanuel said at the Africa Hotel Investment Forum (AHIF).
According to Emanuel, Africa’s RevPAR was up by 6.4% to US$67.10 as of August 2019. Average daily rate (ADR) up 3.3%, has had more of an impact on that growth than occupancy which was up 2.9% did.
“Africa has shown one of the better supply and demand balances on a global level,” Emanuel said. “The continent’s industry continues to expand alongside rapidly developing economies and infrastructure, so there is definite investment opportunity even though finding the right opportunity is challenging. The prospects of greater supply growth as well as political and economic instability can also create difficult situations for the region’s hotel industry moving forward.”