Showing the impact of the COVID-19 pandemic, hotels in the Middle East and Africa reported unprecedented performance lows during April 2020, according to data from STR.
Because of the continued limitations and concerns around the COVID-19 pandemic, Jeddah's hotel industry reported its lowest overall performance on record, according to preliminary April data from STR.
Measures to contain the spread of the coronavirus in the Middle East were amped up in March, but did little to limit the damage done to the region's hotel industry, which was simultaneously thumped by an oil price war between Saudi Arabia and Russia, which required international intervention.
Showing the impact of the COVID-19 pandemic, hotels in the Middle East and Africa reported steep declines across the three key performance metrics in March 2020, according to data from STR.U.S. dollar constant currency, March 2020 vs.
Reflecting the circumstances around the COVID-19 pandemic, STR's preliminary March data for Abu Dhabi shows significant year-over-year declines in the three key performance metrics. Compared with Mar.
Hotels in the Middle East reported mostly negative February 2020 performance results, while hotels in Africa posted mixed results across the three key performance metrics, according to data from STR.
STR's preliminary data for Dubai shows hotel performance declines worsening as concern around the COVID-19 pandemic broadens. February preliminary data:
Analysts at Lodging Econometrics (LE) state in the 2019 year-end report that the hotel construction pipeline in the Middle East stands at 618 projects/178,384 rooms, compared to 622 projects/181,813 rooms at the end of 2018.
While 2019 may have been a year to forget for Middle East and North Africa hotels, the beginning of the new year kicked off on a high note. Profit in January was up 7.7% YOY on a per-available-room basis, driven by top-line gains, including a 3.
Hotels in the Middle East reported mixed January 2020 performance results, while hotels in Africa posted positive results across the three key performance metrics, according to data from STR.