STR: Middle East and Africa hotel performance for October 2017
Hotels in the Middle East reported mixed performance results during October 2017, while hotels in Africa posted growth across the three key performance indicators, according to data from STR.U.S. dollar constant currency, October 2017 vs. October 2016Middle East
LONDON -- Hotels in the Middle East reported mixed performance results during October 2017, while hotels in Africa posted growth across the three key performance indicators, according to data from STR.
U.S. dollar constant currency, October 2017 vs. October 2016
Middle East
- Occupancy: +3.3% to 64.9%
- Average daily rate (ADR): -4.0% to US$163.27
- Revenue per available room (RevPAR): -0.8% to US$106.04
Africa
- Occupancy: +7.6% to 62.5%
- Average daily rate (ADR): +8.4% to US$105.89
- Revenue per available room (RevPAR): +16.7% to US$66.14
Local currency, October 2017 vs. October 2016
Bahrain
- Occupancy: +9.2% to 49.2%
- ADR: -8.2% to BHD58.71
- RevPAR: +0.2% to BHD28.86
STR analysts note that the year-over-year increase in occupancy came in comparison with a low base from October 2016. The country's absolute occupancy level was helped by a pair of events in Manama: the Federation of Afro-Asian Insurers and Reinsurers 25th Conference (9-11 October) and the Bahrain International Defence Exhibition and Conference (16-18 October). The absolute ADR level was the lowest for an October in Bahrain since 2006.
Egypt
- Occupancy: +32.0% to 57.0%
- ADR: +73.6% to EGP1,151.26
- RevPAR: +129.3% to EGP656.07
The devaluation of the Egyptian pound led to the highest October ADR value on record for the country. Occupancy growth was inflated by a comparison with Egypt's second-worst October occupancy month on record (43.2% in 2016). The country continues to recover from security concerns, and demand (roomnights sold) has grown by double digits in nine of 10 months in 2017.
Kenya
- Occupancy: -26.4% to 40.7%
- ADR: -10.7% to KES11,937.82
- RevPAR: -34.2% to KES4,861.17
The absolute occupancy level was the lowest for any October on record, while ADR fell in line with recent trends. According to STR analysts, political struggles in the country have taken their toll on hotel demand (roomnights sold), and the steepest daily RevPAR declines occurred on the days around the election (26 October).
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
Related Document
Media Contact
Alex Anstett
Media & Communications Coordinator - STR [email protected]