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Fri, 26 February 2016

STR Reports January 2016 Performance of Hotels in Middle East and Africa

According to January 2016 data from STR Global, hotels in the Middle East reported negative results, while hotels in Africa recorded mixed results in the three key performance metrics when reported in U.S. dollar constant currency.

Compared with January 2015, the Middle East subcontinent reported a 3.8% decrease in occupancy to 70.3%, ADR was down 6.9% to US$197.20 and RevPAR dropped 10.4% to US$138.60.

The Northern Africa and Southern Africa subcontinents experienced a 5.4% decrease in occupancy to 47.9%, while ADR increase 9.4% to US$111.48, and RevPAR jumped 3.5% to US$53.41.

Performance of featured countries for January 2016 (local currency, year-on-year comparisons):

South Africa saw a 6.3% increase in occupancy to 57.4% as well as double-digit growth in ADR (+12.2% to ZAR1,254.81) and RevPAR (+19.3% to ZAR719.96). The countryís performance was pushed by solid demand growth (+7.2%) coupled with steady supply (+0.8%).

Tunisia experienced a double-digit decrease in occupancy (-10.0% to 27.8%), but a significant rise in ADR (+22.0% to TND172.24) pushed RevPAR (+9.8% to TND47.96) for the month. Supply (-0.9%) remained fairly steady, but demand (-10.8%) decreased considerably.

Tanzania reported an 8.2% drop in occupancy to 47.0% but major spikes in ADR (+34.2% to TZS315,869.17) and RevPAR (+23.2% to TZN148,335.46). Occupancy rates slipped to below 50% for the first time since 2010.

Nigeria saw double-digit declines in occupancy (-14.7% to 40.7%) and RevPAR (-9.5% to NGN17,466.30). ADR in the country grew 6.1% to NGN42,911.30.

Performance of featured markets for January 2016 (local currency, year-on-year comparisons):

Muscat, Oman, reported an 8.7% decline in occupancy to 63.8%, a 9.4% drop in ADR to OMR80.98 and a 17.3% decrease in RevPAR to OMR51.68. Supply growth (+2.0%) outweighed demand performance (-6.9%) for the month, creating a slower-than-usual start to the year in Muscat.

Casablanca, Morocco, posted increases in each of the three key performance metrics: occupancy (+8.0% to 58.2%), ADR (+8.7% to MAD1,062.66) and RevPAR (+17.4% to MAD618.35).

Sharm el-Sheikh, Egypt, reported double-digit decreases across the three key performance indicators: occupancy (-54.7% to 24.8%), ADR (-18.9% to EGP406.16) and RevPAR (-63.3% to EGP100.92). Hoteliers cut prices in the market, but the decline in occupancy was too great to overcome.

Tel Aviv, Israel, reported increases in occupancy (+2.9% to 58.3%) and RevPAR (+3.2% to ILS466.76). ADR (+0.2% to ILS800.02) in the market remained steady.

See other recent news regarding: STR, ADR, RevPAR

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