Beirut’s Hotel Occupancy Rate Reached 64% in July 2017

According to Ernest and Young’s Hotel Benchmark Survey, most of the countries observed improvements in yearly occupancy rate levels y-o-y by July 2017. Due to the summer holidays as well as the travel ban lift for Saudi nationals, Beirut was the best performer in the region. Hotel occupancy rate increased from 57% by July 2016 to 64% by July 2017. This was accompanied by a rise of average rate per room from $141 to $152. Accordingly, revenue per room witnessed a rise of 21.4% y-o-y to $97 by July 2017.

Other gainers in the region included Kuwait, where hotel occupancy rates increased by 6 p.p to 49% by July 2017. However, average rate per room dropped by 8.5% while revenue per room increased by 7.2%, to reach $229 and $113, respectively.

In contrast, many cities in Saudi Arabia saw decreasing levels of hotel occupancy rates due to the hot summer season. As for Jeddah, hotel occupancy rate witnessed the largest drop among other Arab cities, where it fell by  10 p.p  to settle at 72.2% by July 2017.  Similarly, Madina observed a fall across all Key Performance Indicators (KPI’s), where its hotel occupancy rate, ADR, and RevPAR plunged by 2 p.p to 61%, 10.4% to $199, and  13.4% to $121, y-o-y, respectively.

The UAE, maintaining the highest hotel occupancy rate, witnessed no change in hotel occupancy rates, where Dubai and Abu Dhabi’s rates stood at 77%, and 74%, respectively.

Monthly Hotel Occupancy Rates in Lebanon

Beirut’s Hotel Occupancy Rate Reached 64% in July 2017

Source: E&Y Middle East Hotel Benchmark Survey

Leave a Reply

Your email address will not be published. Required fields are marked *