Middle East and Africa hotel performance update

September 04,2019 0 Rita Ghantous

Sharm El Sheikh

Hotels in the Middle East reported mixed July 2019 performance results, while hotels in Africa posted increases across the three key performance metrics, according to data from STR.

U.S. dollar constant currency, July 2019 vs. July 2018

Middle East

Occupancy: +3.0% to 60.8%
Average daily rate (ADR): -5.0% to US$119.26
Revenue per available room (RevPAR): -2.1% to US$72.51

Africa

Occupancy: +1.0% to 62.6%
Average daily rate (ADR): +4.8% to US$106.94
Revenue per available room (RevPAR): +5.8% to US$66.99

Local currency, July 2019 vs. July 2018

Sharm El Sheikh, Egypt

Occupancy: +3.8% to 66.3%
ADR: +23.9% to EGP1,318.95
RevPAR: +28.6% to EGP874.87

The absolute ADR and RevPAR levels were the highest for any July in STR’s Sharm El Sheikh database. STR analysts note that RevPAR has grown for 33 consecutive months in the market as supply has remained relatively flat since early 2016 and demand has grown by double digits for 24 of the last 26 months.

Lagos, Nigeria

Occupancy: +16.2% to 65.7%
ADR: -5.0% to NGN47,077.51
RevPAR: +10.5% to NGN30,915.51

The absolute occupancy and RevPAR levels were the highest ever recorded for a July in STR’s Lagos database. However, July marked the sixth consecutive month of ADR declines for the market. Occupancy, and subsequently RevPAR, were helped by a double-digit rise in demand (+17.0%) and mostly flat supply (+0.7%).

str.com

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About author

Rita Ghantous

Publication Executive

Rita Ghantous is a hospitality aficionado and a passionate writer with over 9 years’ experience in journalism and 5 years experience in the hospitality sector. Her passion for the performance arts and writing, started early. At 10 years old she was praised for her solo performance of the Beatles song “All My Love” accompanied by a guitarist, and was approached by a French talent scout during her school play. However, her love for writing was stronger. Fresh out of school, she became a freelance journalist for Noun Magazine and was awarded the Silver Award Cup for Outstanding Poetry, by The International Library of Poetry (Washington DC). She studied Business Management and earned a Masters degree from Saint Joseph University (USJ), her thesis was published in the Proche-Orient, Études en Management book. She then pursued a career in the hospitality industry but didn’t give up writing, that is why she launched the Four Points by Sheraton Le Verdun Newsletter. Her love for the industry and journalism led her to Hospitality Services - the organizers of the HORECA trade show in Lebanon, Saudi Arabia, Kuwait and Jordan, as well as Salon Du Chocolat, Beirut Cooking Festival, Whisky Live and other regional shows. She is currently the Publications Executive of Hospitality News Middle East, Taste & Flavors and Lebanon Traveler. It is with ultimate devotion for her magazines that she demonstrates her hospitality savoir-faire.