STR: Riyadh hotels reported higher occupancy in June
Riyadh’s hotel industry reported higher occupancy than the month prior, but lower room rates, according to preliminary June 2022 data from STR.
Markets & Performance
Dubai hotels achieve profitability levels seven times higher than 2019
Among key hotel markets in the Middle East, Dubai’s gross operating profit per available room (GOPPAR) came in seven times higher than the 2019 comparable, according to STR‘s May 2022 P&L data release.
Saudi Arabia’s Travel & Tourism to have fastest growth in the Middle East over the next decade
The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in Saudi Arabia is expected to grow at an average of 11% annually over the next decade, making it the fastest growing Travel & Tourism in the Middle East.
STR: Jeddah hotels reported highest performance since September 2019
Jeddah’s hotel industry reported its highest performance levels since September 2019, according to preliminary May 2022 data from STR.
Colliers reveal hotel market insights ahead of Future Hospitality Summit Saudi Arabia this month
Professional services and investment management company, Colliers, have revealed key market insights for Saudi Arabia ahead of the Future Hospitality Summit (FHS) taking place in Riyadh on 24-25 May 2022 co-organised by The Bench, MEED, and Saudi-based SEMARK.
STR: Abu Dhabi and Dubai hotels exceeded 2019 Eid al-Fitr performance
The Abu Dhabi and Dubai hotel industries recorded occupancy and average daily rate (ADR) that exceeded the 2019 Eid al-Fitr comparables, according to preliminary data from STR.
STR: Expo 2020 drove Dubai hotel occupancy above 90% for the first time since 2007
Driven by the final weeks of Expo 2020, Dubai’s hotel industry reported its first month of 90% or better occupancy since 2007, according to preliminary March 2022 data from STR.
STR: Riyadh hotels showed steady performance in February
Riyadh’s hotel industry reported steady performance levels compared with recent months, according to preliminary February 2022 data from STR.
Israel Hotel Market Overview 2022 – Ready and Waiting for Recovery
Our last review of the Israel Hotel Market was published in the summer of 2020 when the world was immersed in huge uncertainty owing to the COVID-19 pandemic – many countries were in varying states of lockdown, travel was suspended for most and no-one was quite sure whether this was just a short-term inconvenience or something more serious. As I write this in February 2022, we are in an equally unprecedented situation as the Russian invasion of Ukraine unfolds in front of us, making the subject of recovery in the hotel sector less certain as across the world we hope and pray for a swift solution.
By Russell Kett and Christopher Boyd
Swiss-Belhotel International Announces De-Branding of Swiss-Belhotel Doha
Swiss-Belhotel International has announced the de-branding of Swiss-Belhotel Doha owned by the Al Majid Family of Qatar. Effective from 1st February 2022, the hotel is no longer part of the Swiss-Belhotel International portfolio.
STR: Jeddah hotel industry reported slightly lower performance levels in January
Jeddah’s hotel industry reported slightly lower performance levels compared with the month prior, according to preliminary January 2022 data from STR.
STR: Dubai hotel rates reached six-year high in December
Lifted by Expo 2020 and the holiday season, Dubai’s hotel industry reported its highest monthly room rates since 2015, according to preliminary December 2021 data from STR.
STR: Abu Dhabi hotel occupancy reached pandemic-era high in November
Abu Dhabi’s hotel industry reported its highest monthly occupancy level since the beginning of the pandemic, according to preliminary November 2021 data from STR.
F1 Grand Prix lifted Jeddah hotels to record-breaking performance
Lifted by the Saudi Arabian Grand Prix, Jeddah’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary daily data from STR.
Dubai hotels surpassed 2019 profit level in October
Estimated Dubai gross operating profit per available room (GOPPAR) for October 2021 came in at 159% of the 2019 comparable, according to STR‘s latest monthly P&L data release.
Dubai welcomes the world, and hotels are benefitting
Since 1851, World Expos have showcased some of the world’s greatest innovations in some of the world’s most influential cities. Currently, Dubai has the honor of welcoming the world as the COVID-19 pandemic forced the event to be postponed from its originally scheduled 2020 start. While Dubai was already recovering better than most major, global markets, the start to the six-month “mega event” in October was a welcome sight for hoteliers with delegates, business travellers and leisure guests accounting for more than 1 million visits during the event’s opening weeks (according to event organizers).
STR: Expo lifted Dubai hotel rates to three-year high in October
Lifted by the opening of Expo 2020, Dubai’s hotel industry reported its highest monthly room rates since 2018, according to preliminary October 2021 data from STR.
STR: Preliminary September data for Riyadh hotels
Riyadh’s hotel industry reported mixed performance in comparison with recent months, according to preliminary September 2021 data from STR.
STR: Preliminary Dubai hotel data for August
Dubai’s hotel performance was up from the prior month, according to preliminary August 2021 data from STR.
Luxury on the Horizon in KSA
Traditionally reliant on religious tourism, as well as regional visitation, current projects underway in KSA include The Red Sea, Qiddiya, Amaala, Al Ula and NEOM, to name a few. These developments will become home to some of the largest mixed-use schemes and will undoubtedly encourage travel demand and transform the hospitality landscape and offering.
By Hala Matar Choufany, President - HVS Middle East, Africa and South Asia, Dubai, HVS