According to Enst & Young Middle East hotel benchmark survey, Lebanon recorded the second largest year on year (y-o-y) increase in its occupancy, with a 14 percentage points (p.ps) rise to 50% in January 2015. The stabilized political situation in Lebanon, the New Year Holiday, and the skiing season contributed to the improvement in occupancy. With respect to average daily rate (ADR) and revenue per available room (RevPar), they displayed yearly progresses of 3.8% and 43.5% to $181 and $92, respectively.
Improving political and security situations allowed Egypt to be the best performer among the countries in the survey, with the highest growth of 24 percentage points in its occupancy to 50%. Cairo’s ADR added 45.9% to $106, while its RevPar surged from $19 in 2014 to $53 in January 2015.
On the other hand, Medina in Saudi Arabia showed the worst drop in occupancy rate of 11 p.ps to 69%. ADR gained 1.3% to $188, whereas its RevPar declined 125 to $131, respectively.
Lebanon’s Monthly Occupancy Rate
Source: EY Middle East Hotel Benchmark Survey