Lebanon’s Occupancy Rate Improved to 54% by April

According to Ernst & Young Middle East hotel benchmark survey, Lebanon registered the largest year-on-year (y-o-y) improvement in its occupancy rate by April, after Egypt. This goes hand in hand with the fact that tourist activity surged by 23.12% y-o-y in the 1st quarter of 2015, possibly due to the skiing season that attracted Arab tourists, and the stable security situations in the country knowing that the tourism sector is recovering from a low base. In turn, Lebanon’s occupancy rate progressed 12 percentage points (p.p.) to 54% in the first 4 months of 2015. Furthermore, the third largest enhancement in the occupancy rate by April was Doha, Qatar, which gained 5 p.p to 76%.

Over the same period, the largest decline in the occupancy rate was in Amman, Jordan which lost 10 p.p yearly to 53% followed by Jeddah, Saudi Arabia which recorded a decrease of 3 p.p y-o-y to 77% by April. The third biggest loser was Dubai, UAE which lost an annual 1 p.p to 86%, albeit, it is still the largest occupancy rate in the region.

With respect to Lebanon’s average daily rate (ADR) and revenue per available room (RevPar), they displayed yearly upturns of 6.2% and 35.6% to $173 and $94, respectively. Cairo’s ADR added 33.2% to $102, while its RevPar amplified from $24 in 2014 to $48 by April 2015. Furthermore, Dubai’s ADR and RevPar were the highest in the region at $325 and $284, respectively, even though they lost 6.7% and 7.9% y-o-y, over the same period.

Looking at the month of April alone, Beirut posted an improvement of 5 p.p. in its occupancy rate to 56%. ADR and RevPar gained 2.5% and 12.3% to$175 and $99, respectively.

Lebanon’s Monthly Occupancy Rate

Lebanon’s Occupancy Rate Improved to 54% by April

Source: EY Middle East Hotel Benchmark Survey

 

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