• Kenya performance improves, but remains below historical average
  • Lebanon February rates increase for first time since 2015
  • Oman demand reaches all-time high for February

LONDON – Hotels in the Middle East reported negative February 2018 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.

U.S. dollar constant currency, February 2018 vs. February 2017

Middle East

  • Occupancy: -0.7% to 70.5%
  • Average daily rate (ADR): -7.3% to US$161.96
  • Revenue per available room (RevPAR): -7.9% to US$114.26

Africa

  • Occupancy: +3.8% to 61.0%
  • Average daily rate (ADR): +7.3% to US$125.04
  • Revenue per available room (RevPAR): +11.4% to US$76.26

Local currency, February 2018 vs. February 2017

Kenya

  • Occupancy: +2.8% to 55.3%
  • Average daily rate (ADR): -2.0% to KES132.20
  • Revenue per available room (RevPAR): +0.7% to KES73.17

STR analysts credit demand (room nights sold) and occupancy growth in the country to further time removed from major political and security instability. However, the February occupancy level remained well below the historical average in the country. Supply growth (+3.4%) likely played a role in in the year-over-year ADR decrease.

Lebanon

  • Occupancy: -0.5% to 51.7%
  • ADR: +2.5% to LBP149.81
  • RevPAR: +2.0% to LBP77.53

The increase in ADR was the first for a February in Lebanon since 2015. According to STR analysts, security concerns continue to weigh on the country's hotel performance. Demand, down 0.4% in February, has dropped year-over-year for four straight months. At the same time, supply growth has been minimal.

Oman

  • Occupancy: +4.0% to 73.7%
  • ADR: +1.7% to OMR174.85
  • RevPAR: +5.8% to OMR128.87

Demand reached an all-time high for a February in Oman. ADR has now increased for two consecutive months in the country after three straight years of mostly ADR declines.

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.

Nick Minerd
Public Relations Coordinator
+1 (615) 824 8664 ext. 3305
STR

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