Middle East hotels performance slumps for Q2 2018

Hotels in the Middle East has registered a decrease in occupancy by 3.55 to 60.2% for Q2 2018, a study by STR reported.

Average daily rates (ADR) have dropped by 5.8% to US $159.13 and Revenue per available room (RevPAR) dropped by 9.1% to $95.73.

In the Middle East, Kuwait did see a slight life in demand during Eid al-Fitr like other countries in the region but STR analysts pointed out that RevPAR level have stayed low ever since the country experienced the drop in oil prices which led to drop in occupancy levels.

Hotels in Africa on the other hand, saw a rise in occupancy by 5.1% to $56.3%, ADR also rose by 6.6% to $113.71 and RevPAR went up by 12% to $63.97.

Among African countries, Nigeria performed relatively well and saw an uptick in occupancy by 10.9% to 49.4%. The ADR rose by 9.9% and RevPAR by 21.9%. STR analysts credit the oil prices and the tourism industry for the growth in Nigeria’s market performance – the highest it has been since 2014.

The figures for Q2 2018 have been calculated against the numbers recorded in Q2 2017.