Hotels in the Central/South America region reported negative performance results in February 2017.
LONDON – Hotels in the Middle East reported mixed results in the three key performance metrics, while hotels in Africa recorded positive results, according to February 2017 data from STR.
U.S. dollar constant currency, year-over-year comparisons:
Middle East
Occupancy: +3.2% to 71.7%
Average daily rate (ADR): -1.8% to US$176.07
Revenue per available room (RevPAR): +1.3% to US$126.25
Africa
Occupancy: +5.5% to 58.8%
ADR: +10.2% to US$109.83
RevPAR: +16.2% to US$64.55
Local currency, year-over-year comparisons:
Jordan
Occupancy: -10.4% to 41.5%
ADR: -4.9% to JOD88.06
RevPAR: -14.8% to JOD36.54
Demand levels in Jordan have fluctuated over the past year with decreases as large as 24.7% and increases as high as 22.2%. According to STR analysts, ongoing security concerns have hindered the country’s hotel performance, resulting in the significant occupancy decline for February.
South Africa
Occupancy: +0.2% to 69.8%
ADR: +7.6% to ZAR1,366.12
RevPAR: +7.8% to ZAR954.08
STR analysts note that February is typically a strong month for South Africa hotels. Cape Town, the country’s largest tourism hub, recorded standout performance growth during the month with a 14.6% RevPAR increase. The market’s hotels received a lift from events like Mining Indaba (6-9 February), the Stellenbosch Wine Festival (24-26 February), the Ultra South Africa music festival (24-25 February) and Jazz on the Rocks (23-27 February). The country’s overall performance falls in line with previous months as South Africa’s hotel industry has thrived due to weakened currency.
United Arab Emirates
Occupancy: +6.0% to 84.0%
ADR: +1.4% to AED714.04
RevPAR: +7.5% to AED599.94
Performance was boosted by major events in February, including the International Defence Exhibition and Conference (19-23 February) in Abu Dhabi and the Gulfood conference (26 February-2 March) in Dubai. The 84.0% actual occupancy level was the highest for a February in the United Arab Emirates since 2008.
Hotels in Europe reported growth across the three key performance metrics in February 2017, according to data from STR.
Euro constant currency, year-over-year comparisons:
Europe
Occupancy: +2.9% to 64.5%
Average daily rate (ADR): +1.8% to EUR100.08
Revenue per available room (RevPAR): +4.7% to EUR64.59
Local currency, year-over-year comparisons:
Hungary
Occupancy: +12.0% to 58.1%
ADR: +4.8% to HUF19,919.04
RevPAR: +17.3% to HUF11,566.69
STR analysts note that several events lifted Hungary’s performance, including FeHoVa 2017 (Fishing, Hunting and Arms International Exhibition, 9-12 February), the Budapest Boat Show (23-26 February) and the Budapest Motor Festival (23-26 February).
Netherlands
Occupancy: +4.0% to 64.2%
ADR: +3.5% to EUR107.27
RevPAR: +7.7% to EUR68.88
Hotel performance in the Netherlands was boosted by the ISE 2017 (Integrated Systems Europe) exhibition in Amsterdam (7-10 February). The country’s occupancy eclipsed 80% twice during the four-day event.
Switzerland
Occupancy: -0.6% to 58.5%
ADR: -7.9% to CHF229.79
RevPAR: -8.5% to CHF134.44
February marked Switzerland’s first year-over-year occupancy decline since August 2016. STR analysts note that Swiss hotels performed better on weekdays than on weekends in February, suggesting more corporate business than leisure business.
Hotels in the Central/South America region reported negative performance results in February 2017, according to data from STR.
U.S. dollar constant currency, year-over-year comparisons:
Central/South America region
Occupancy: -2.5% to 55.4%
Average daily rate (ADR): -7.0% to US$102.56
Revenue per available room (RevPAR): -9.3% to US$56.81
Local currency, year-over-year comparisons:
Argentina
Occupancy: +3.9% to 59.5%
ADR: +5.6% to ARS1,742.39
RevPAR: +9.7% to ARS1,036.16
Argentina’s strong February performance was primarily driven by hotels in the Upscale and Upper Midscale classes (RevPAR: +14.3%). STR analysts note that the country’s hotel market is regaining stability after the devaluation of the Argentinian peso in 2016.
Colombia
Occupancy: -5.1% to 59.7%
ADR: -1.1% to COP280,127.96
RevPAR: -6.1% to COP167,203.22
February marked Colombia’s third consecutive month of RevPAR declines, which was mainly the result of a 1.6% drop in demand coupled with a 3.7% increase in supply. Looking at performance by class, Midscale and Economy was the only segment to post growth (RevPAR: +6.5%). STR analysts suggest this is reflective of a more price-sensitive consumer base.
Peru
Occupancy: -3.6% to 54.4%
ADR: -10.6% to PEN404.95
RevPAR: -13.8% to PEN220.17
In comparison with a particularly strong ADR last month, hotels in Peru posted sharp declines. Performance was down for most key markets, with the exception of Cusco, which posted occupancy growth of 4.4%, countering a 3.1% decline in ADR.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
