Hotels in the Middle East reported mixed November 2019 performance results, while hotels in Africa posted positive results across the three key performance metrics, according to data from STR.

U.S. dollar constant currency, November 2019 vs. November 2018

Middle East

  • Occupancy: +3.4% to 72.1%
  • Average daily rate (ADR): -5.9% to US$146.47
  • Revenue per available room (RevPAR): -2.6% to US$105.56

Africa

  • Occupancy: +0.4% to 68.1%
  • Average daily rate (ADR): +0.2% to US$110.95
  • Revenue per available room (RevPAR): +0.6% to US$75.60

Market Focus, Local currency

Riyadh, Saudi Arabia

  • Occupancy: +34.6% to 82.8%
  • ADR: +11.1% to SAR685.91
  • RevPAR: +49.5% to SAR568.19

Pushed by a 55.0% increase in demand, the absolute occupancy level is the highest for a November in Riyadh since 2007. STR analysts note that Saudi Arabia has seen a positive shift in hotel performance due to Saudi Vision 2030, a plan focused on diversifying the economy from being highly oil-reliant and focusing on public sectors, such as tourism growth.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.