Abu Dhabi hotels see performance lift during Eid al-Adha; Beirut posts significant growth as performance rebound continues.
LONDON — Hotels in the Middle East reported negative August 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, August 2019 vs. August 2018
Middle East
- Occupancy: -0.6% to 63.1%
- Average daily rate (ADR): -6.8% to US$158.79
- Revenue per available room (RevPAR): -7.3% to US$100.23
Africa
- Occupancy: +0.3% to 63.2%
- Average daily rate (ADR): +3.4% to US$109.54
- Revenue per available room (RevPAR): +3.7% to US$69.25
Local currency, August 2019 vs. August 2018
Abu Dhabi
- Occupancy: +3.9% to 67.1%
- ADR: -0.9% to AED324.61
- RevPAR: +3.0% to AED217.73
The absolute occupancy level was the highest for an August in the market since 2015. STR analysts note that the largest ADR and RevPAR increases occurred during Eid al-Adha (11-13 August). According to STR’s market forecast, Abu Dhabi is expected to see further RevPAR growth for 2019 overall.
Beirut, Lebanon
- Occupancy: +3.8% to 71.4%
- ADR: +13.1% to LBP289,435.32
- RevPAR: +17.4% to LBP206,641.09
The absolute occupancy and RevPAR levels were the highest for an August in Beirut since 2009, while the ADR level was the highest for the month since 2011. STR analysts note that Beirut hotel performance is rebounding after the travel ban from Saudi Arabia was revoked earlier this year. Analysts highlight that demand (+7.0%) in August outpaced supply (+3.0%), and this is a trend likely to continue as supply growth is expected to remain muted. There are no active pipeline projects in the market, according to STR’s AM:PM database.
Central/South America hotel performance
Hotels in the Central/South America region reported mixed performance results during July 2019, according to data from STR.
U.S. dollar constant currency, August 2019 vs. August 2018
Central/South America
- Occupancy: +1.4% to 59.9%
- Average daily rate (ADR): +11.0% to US$94.48
- Revenue per available room (RevPAR): +12.6% to US$56.63
STR analysts note that the region’s demand continues to grow, pushing occupancy levels higher. However, ADR and RevPAR comparisons with last year are affected by currency fluctuations.
Local currency, August 2019 vs. August 2018
Rio de Janeiro, Brazil
- Occupancy: +3.9% to 54.3%
- ADR: +6.1% to BRL360.27
- RevPAR: +10.2% to BRL195.57
Supply in Rio de Janeiro grew for the first month this year (+0.8%), but demand (+4.7%) rose at a higher rate. STR analysts attribute demand increases to multiple August events, such as the 23rd Rio De Janeiro International Half Marathon (18 August) and the Bunker Festival (24 August).
Lima, Peru
- Occupancy: +6.2% to 68.9%
- ADR: +2.8% to PER437.10
- RevPAR: +9.2% to PER301.33
STR analysts note that August has been the highest performing month for the market thus far in 2019. The Pan American Games (26 July through 11 August) lifted performance levels during the first half of August. The largest occupancy and RevPAR increases were seen on 9 August, +41.9% and +62.4%, respectively.
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.
