The World Travel & Tourism Council’s annual Economic Impact Report (EIR) today reveals that the dramatic collapse of Egypt’s Travel & Tourism sector wiped out a staggering $17.6 billion from the nation’s economy last year.
Dubai's hotel industry reported its highest room rates in three months, according to preliminary April 2021 data from STR.
Saudi Arabia shows 73,057 rooms across the three phases of the hotel pipeline, and the country's projected 67.1% increase in room supply over the next three years is the highest among the world's 50 most populated countries, according to STR's AM:PM platform.
Lifted by IDEX, Abu Dhabi's hotel industry reported its best performance since the start of the pandemic, according to preliminary February 2021 data from STR.
Riyadh's hotel industry reported its highest overall performance since the start of the pandemic, according to preliminary January 2021 data from STR. Year-over-year declines remained significant.
Dubai's hotel industry reported its highest performance levels since the start of the pandemic, according to preliminary December 2020 data from STR.
Jeddah's hotel industry reported mixed performance in comparison with recent months, according to preliminary October 2020 data from STR. Year-over-year declines in the key performance metrics remained significant when compared with October 2019:
Dubai's hotel industry reported its highest occupancy level since February, according to preliminary September 2020 data from STR. Year-over-year declines in the key performance metrics remained significant. Compared with September 2019:
Abu Dhabi's hotel industry reported improved performance levels from previous months, according to preliminary August 2020 data from STR. Compared with August 2019:
Jeddah's hotel industry reported improved but low performance levels during July 2020, according to preliminary data from STR.
The restrictions imposed due to the COVID-19 pandemic have severely hit every sector across the globe, and the hospitality industry is undeniably among the hardest hit. In Israel, strict lockdown measures were implemented in mid-March, forcing all except non-essential businesses to close, including most of the country's hotels.
Dubai's hotel industry reported slightly improved but still relatively low performance levels, according to preliminary June data from STR. Compared with June 2019:
Abu Dhabi's hotel industry reported improved but still relatively low performance levels, according to preliminary May data from STR. Compared with May 2019:
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. Compared with April 2019:
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 March 2019 data:
STR's preliminary data for Dubai shows hotel performance declines worsening as concern around the COVID-19 pandemic broadens. February preliminary data:
Dubai: Emaar Hospitality said it will stop bookings at some of its hotels between March 15 and August 31 amidst a general slowdown in the travel industry due to the coronavirus spread.
STR's preliminary January 2020 data for hotels in Jeddah indicates significant growth in demand and occupancy. Based on daily data from the month, Jeddah reported the following in year-over-year comparisons:
STR's preliminary December 2019 data for Abu Dhabi, United Arab Emirates, indicates strong room rates despite weakened demand.
Hotel bookings made well in advance, and some made at the very last minute, all culminated in hotels across the UAE posting record occupancy rates for New Year's Eve - a momentum that many hospitality experts say will carry over into the new year as the UAE gets ready to host Expo 2020 Dubai.