LONDON – Hotels in the Middle East reported negative performance results during November 2017, while hotels in Africa posted growth across the three key performance indicators, according to data from STR.

U.S. dollar constant currency, November 2017 vs. November 2016

Middle East

  • Occupancy: -1.8% to 69.6%
  • Average daily rate (ADR): -4.6% to US$171.10
  • Revenue per available room (RevPAR): -6.3% to US$119.01

STR analysts note that consistent declines in RevPAR over the past two years correlates with the drop in oil prices. Qatar, Bahrain and Saudi Arabia have experienced the steepest performance decreases in 2017, and all have been significantly affected by reduced corporate business.

Africa

  • Occupancy: +8.7% to 64.3%
  • Average daily rate (ADR): +0.9% to US$106.73
  • Revenue per available room (RevPAR): +9.7% to US$68.66

Northern Africa drove demand and occupancy growth for the region, with increases of 26.0% and 25.2%, respectively. Egypt helped that performance with continued high occupancy growth (+39.3%). ADR decreased in Northern Africa (-4.0%), which was in part due to decreases in Morocco (-8.5%) and Tunisia (-2.0%).

ADR in the Southern Africa region grew 4.7%, pushing RevPAR up 4.9%. While occupancy only grew 0.1%, the 68.6% absolute occupancy is the region's highest occupancy for a November since 2008.

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.

Alex Anstett
Media & Communications Coordinator - STR
STR