Sharm el-Sheikh demand continues to grow with tourism recovery; Istanbul hotels post record ADR amid currency crisis.
Hotels in the Middle East reported mixed November 2018 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, November 2018 vs. November 2017
Middle East
– Occupancy: +0.9% to 69.8%
– Average daily rate (ADR): -7.7% to US$156.81
– Revenue per available room (RevPAR): -6.9% to US$109.42
Africa
– Occupancy: +5.8% to 68.0%
– Average daily rate (ADR): +7.0% to US$119.59
– Revenue per available room (RevPAR): +13.2% to US$81.31
Local currency, November 2018 vs. November 2017
Dar es Salaam, Tanzania
– Occupancy: -16.7% to 53.2%
– ADR: -1.8% to TZS251,655.28
– RevPAR: -18.2% to TZS133,940.60
Europe hotel performance
Europe’s hotel industry reported positive results in the three key performance metrics during November 2018, according to data from STR.
Euro constant currency, November 2018 vs. November 2017
Europe
– Occupancy: +1.7% to 71.8%
– Average daily rate (ADR): +4.0% to EUR105.84
-Revenue per available room (RevPAR): +5.8% to EUR75.99
Local currency, November 2018 vs. November 2017
Istanbul
– Occupancy: +4.2% to 69.0%
– ADR: +47.0% to TRY468.34
– RevPAR: +53.2% to TRY323.24
The absolute ADR level was the highest for any November in STR’s Istanbul database. STR analysts attribute the jump in the metric to Turkey’s currency crisis of the last few months—October produced the country’s highest inflation rate in 15 years. Demand (room nights sold) has also helped push performance, and Turkey is expected to reach almost 39 million visitors by the end of 2018, according to the World Travel & Tourism Council.
Vienna
– Occupancy: +12.8% to 82.9%
– ADR: +12.1% to EUR101.07
– RevPAR: +26.4% to EUR83.78
The occupancy level was the highest for any November on record in Vienna. STR analysts note that performance was helped by a host of November events: European Utility Week 2018 (6-8 November), Energy Austria (5-6 November), the 4th European Congress on Endometriosis, and the European Congress for Homeopathy (22-24 November).
Central/South America hotel performance
Hotels in the Central/South America region reported positive performance results during November 2018, according to data from STR.
U.S. dollar constant currency, November 2018 vs. November 2017
Central/South America
– Occupancy: +1.9% to 64.2%
– Average daily rate (ADR): +17.5% to US$115.66
– Revenue per available room (RevPAR): +19.8% to US$74.26
Local currency, November 2018 vs. November 2017
Bogota, Colombia
– Occupancy: +3.1% to 69.6%
– ADR: +2.5% to COP270,787.81
– RevPAR: +5.7% to COP188,469.30
After three consecutive months of occupancy declines, Bogota hotels experienced an increase in occupancy that was driven by a 7.6% jump in demand (room nights sold).
Sao Paulo
– Occupancy: +2.5% to 71.3%
– ADR: +10.0% to BRL385.77
– RevPAR: +12.8% to BRL274.89
Sao Paulo hotels have now posted 16 consecutive months of ADR growth. The absolute value in the metric was also the highest for any November in STR’s Sao Paulo database. STR analysts partially attribute the jump in rates to the depreciation of the Brazilian Real against the U.S. dollar.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
