Abu Dhabi, Bahrain record rise in hotel occupancy, RevPAR in August
Absolute occupancy level for Abu Dhabi was the highest for an August in the market since 2015
Hotels in the Middle East have recorded a drop in their performance indicators, however Abu Dhabi and Bahrain have recorded growth in their occupancy and revenue per available room (RevPAR) in August 2019, STR revealed.
According to data, hotels in Abu Dhabi witnessed a 3.9% rise in occupancy with rates going up to 67.1%, while RevPAR grew by 3% to AED217.73 (US$59.28) in August 2019, when compared to the same period last year. Average daily rates dropped by 0.9% to AED324.61($88.38).
The absolute occupancy level was the highest for an August in the market since 2015.
STR analysts revealed that the largest ADR and RevPAR increases occurred during Eid al-Adha (11-13 August 2019).
According to analysts, Abu Dhabi is expected to see further RevPAR growth for 2019 overall.
Bahrain enjoyed a busy season, with occupancy rising by 3.8% to 71.4%, ADR rising by 13.1% to LBP289,435.32 ($191.99) and RevPAR going up by 17.4% to LBP206,641.09 ($137.01).
The absolute occupancy and RevPAR levels were the highest for an August in Beirut since 2009, while the ADR level was the highest for the month since 2011.
STR analysts said: “Beirut’s hotel performance is rebounding after the travel ban from Saudi Arabia was revoked earlier this year. Analysts highlight that demand (an increase of 7.0%) in August outpaced supply, and this is a trend likely to continue as supply growth is expected to remain muted.”
There are no active pipeline projects in the market, according to STR’s database.