Beirut leading occupancy growth in the first nine months of the year

Beirut leading occupancy growth in the first nine months of the year

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Hotel occupancy in Beirut in the first nine months of the year stood at 65.2 percent, a 6.3 percent growth y-o-y, according to EY’s Middle East Hotel Benchmark Survey Report September 2017. This positions the Lebanese capital on top of the occupancy growth in the region.

 

This is mainly driven by the coming back GCC tourism, expats, and the supportive initiatives led by the Ministry of Tourism, in addition to economic and political stability in the country.

 

The positive echoes were reflected on the improving RevPAR and the improving yields, all scoring growth, respectively eight and almost 20 percent.

 

Beirut’s positive occupancy growth was followed by Kuwait, also growing by six percent y-o-y to reach 47 percent.

 

Doha’s hospitality market witnessed a dip of 12.4 percent in RevPAR from USD 109 in September 2016 to USD 96 in September 2017, due to a drop in ADR by 6.6 percent and an occupancy drop of 3.7 percent points in September 2017 when compared to September 2016. A decline in the KPI performance of Doha can be attributed to a decrease in visitors from GCC due to the Gulf diplomatic crisis.

 

Manama’s hospitality market witnessed a drop in occupancy by three percent points in September 2017 when compared to the same period last year, coupled with a decrease in ADR from USD 213 in September 2016 to USD 202 in September 2017, causing the RevPAR to decline by 10 percent from USD 123 in September 2016 to USD 111 in September 2017.

 

In September 2017, Dubai’s hospitality market experienced a drop in RevPAR by 18.4 percent from USD 153 in September 2016 to USD 125 in September 2017. The decrease was primarily due to the ADR dropping by 12 percent, coupled by a slump in occupancy by 5.8 percent points. A reduced vacation period for Eid Al Adha, coupled with a slower demand as compared to the same time last year could be considered as some of the reasons for a performance drop. Abu Dhabi’s hospitality market witnessed an occupancy increase of 5.9 percent points from 74.7 percent in September 2016 to 80.5 percent in September 2017. However, the ADR dropped by 12.0 percent from USD 106 to USD 94 compared to the same time last year, resulting in an overall drop in RevPAR by five percent.

 

Both the cities have seen a drop in the YTD September 2017 RevPAR performance as compared to the same period in 2016, with Dubai and Abu Dhabi experiencing a drop of 6.4 percent and 7.3 percent respectively.

In the first nine months, the top ten occupied cities were: Dubai (75.8 percent), Abu Dhabi (74.4 percent), RAK (72.6 percent), Jeddah (68.3 percent), Cairo (66.5 percent), Muscat (65.8 percent), Beirut (65.2 percent), Madinah (63.5 percent), Doha (59.5 percent), and Riyadh (53.1 percent).

 

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