According to Enst & Young Middle East hotel benchmark survey, Lebanon recorded the largest year on year (y-o-y) improvement in its occupancy rate, after Egypt. Lebanon’s occupancy rate progressed 13 percentage points (p.ps) to 52% in the first 2 months of 2015, triggered by the stabilized political and security situations and the skiing season. With respect to average daily rate (ADR) and revenue per available room (RevPar), they displayed yearly increases of 3.6% and 40.1% to $175 and $93, respectively.
Egypt, the best performer, saw its occupancy rate surge by 18 p.p y-o-y to 47%, by February 2015. The steadied political situation in addition to CardioEgypt 2015 congress, which has been proven to be the most comprehensive annual cardiovascular meeting in Egypt and the MENA, were mainly behind this improvement in occupancy. Cairo’s ADR added 42.1% to $102, while its RevPar amplified from $21 in 2014 to $49 by February 2015.
In contrast, Jordan showed the worst yearly drop in occupancy rate of 12 p.ps to 46%. ADR lost 0.8% to $156, whereas its RevPar declined 20.1% to $73.
Looking at the month of February alone, Beirut posted the biggest annual improvement of 14 p.ps in its occupancy rate to 55%. ADR and RevPar gained 3.2% and 36.7% to$169 and $93, respectively.
Lebanon’s Monthly Occupancy Rate
Source: EY Middle East Hotel Benchmark Survey