Hotels in both the Middle East and Africa reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR.
Hotels in the Middle East recorded their highest absolute occupancy level since February, while Africa hotels saw slightly lower occupancy than the previous month, according to November 2020 data from STR.
When the pandemic sent global economies into decline, it clinched the end to a decade-long bull run in commercial real estate markets.
The key hotel markets in the United Arab Emirates have reached or surpassed 50% occupancy due to strong domestic and recent international demand, according to preliminary data and analysis from STR.
Hotels in both the Middle East and Africa recorded their highest absolute occupancy level since February, according to October 2020 data from STR.
Bouncing back to profitability is proving a Sisyphean task for U.S. hotels. The rest of the world is having a slightly easier path.
Hotels in both the Middle East and Africa showed continued occupancy improvements but at overall low levels, according to September 2020 data from STR.
On 26 March 2020 as we said our goodbyes to colleagues, we did not foresee that six months later many hotels across South Africa would remain closed.
Hotels in both the Middle East and Africa showed improved but low performance, according to July 2020 data from STR.
This issue of our Monitor series is a landmark in so many ways. First, never has our industry sustained such prodigious pressure on performance across all markets in all countries across all continents for so long and to such a debilitating degree.