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STR: EMEA, South America hotel performance for September 2018

Sheraton Sofia Hotel Balkan.

Hotels in the Middle East reported September 2018 performance declines, while hotels in Africa posted growth across the three key performance metrics. Europe’s hotel industry reported mixed results in the three key performance metrics.

LONDON – Hotels in the Middle East reported September 2018 performance declines, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.

U.S. dollar constant currency, September 2018 vs. September 2017

Middle East

  • Occupancy: -7.0% to 59.8%
  • Average daily rate (ADR): -18.0% to US$124.49
  • Revenue per available room (RevPAR): -23.7% to US$74.47

Africa

  • Occupancy: +3.9% to 65.0%
  • Average daily rate (ADR): +6.4% to US$107.96
  • Revenue per available room (RevPAR): +10.6% to US$70.21

Local currency, September 2018 vs. September 2017

Beirut

  • Occupancy: -6.7% to 66.6%
  • ADR: -6.8% to LBP224,065.02
  • RevPAR: -13.0% to LBP149,146.78

Beirut’s declines were largely attributable to high performance levels last September, according to STR analysts. Performance growth was well-pronounced during most of the months of 2017 due to a stabilized political climate and a boost in tourism. Despite the year-over-year performance decrease, Beirut’s absolute occupancy level was the second-highest for a September in the market over the last seven years. Only September 2017 (71.3%) was higher during that time.

Riyadh, Saudi Arabia

  • Occupancy: +26.7% to 56.3%
  • ADR: -8.7% to SAR599.84
  • RevPAR: +15.7% to SAR337.45

STR analysts attribute a 33.4% jump in demand (room nights sold) to four events hosted at the Riyadh International Convention & Exhibition Center. The 56.3% absolute occupancy level was the highest for any September in the market since 2014. The highest occupancy night came on 25 September (78.5%), which was the first day of the SFDA Annual Conference & Exhibition. The decline in monthly ADR was likely due to continued significant supply growth (+5.8% year to date).

Europe hotel performance for September 2018
Europe’s hotel industry reported mixed results in the three key performance metrics during September 2018.

Euro constant currency, September 2018 vs. September 2017

Europe

  • Occupancy: -0.7% to 80.7%
  • Average daily rate (ADR): +3.6% to EUR123.09
  • Revenue per available room (RevPAR): +2.8% to EUR99.38

Local currency, September 2018 vs. September 2017

Sofia, Bulgaria

  • Occupancy: +6.2% to 75.3%
  • ADR: +20.5% to BGN167.29
  • RevPAR: +27.9% to BGN125.98

The absolute occupancy was the highest for any month in Sofia since October 2016. The ADR value was the highest for a September since 2008.

Budapest, Hungary

  • Occupancy: +0.1% to 90.5%
  • ADR: +14.8% to HUF33,065.71
  • RevPAR: +15.0% to HUF29,938.14

The absolute ADR and RevPAR levels were the highest for any September in STR’s Budapest database. STR analysts attribute the strong performance to an increase in inbound tourism and a continued lack of supply growth in the market.

Central/South America hotel performance for September 2018
Hotels in the Central/South America region reported positive performance results during September 2018.

U.S. dollar constant currency, September 2018 vs. September 2017

Central/South America

  • Occupancy: +0.9% to 58.7%
  • Average daily rate (ADR): +11.2% to US$104.27
  • Revenue per available room (RevPAR): +12.2% to US$61.18

Local currency, September 2018 vs. September 2017

Lima, Peru

  • Occupancy: -9.9% to 68.5%
  • ADR: -13.2% to PEN442.62
  • RevPAR: -21.8% to PEN303.14

Occupancy in Lima decreased for the fifth consecutive month. STR analysts attribute performance declines to an influx of new supply (+7.2%) combined with a dip in demand (-3.5%).

Quito, Ecuador

  • Occupancy: +13.0% to 66.9%
  • ADR: +2.3% to US$97.94
  • RevPAR: +15.7% to US$65.54

Demand (room nights sold) increased 16.3% in the market. STR analysts note that an improved political situation in Ecuador has helped increase tourism.

Theodore Koumelis
Co-Founder & Managing Director - Travel Media Applications | Website

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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