According to E&Y’s Middle East Hotel Benchmark Survey, Beirut’s hotel occupancy rate increased from 57.3% in the first five months of 2016 to 64.7% over the same period in 2017. With Eid al-Fitr coming up, Lebanon is expected to register higher leisure and tourism activities as families come to celebrate in preparation for the feast of end of Ramadan (which falls in June this year).
The average room rate increased from $138 by May 2016 to $143 by May 2017 while the room yield rose from $79 to $92 over the same period.
In the month of May and on a regional level, hotel occupancy rates improved only in Beirut and Madinah. In Beirut, the rate increased from 66.8% in May 2016 to 70% in May 2017. In Madinah, which is a major Islamic pilgrimage site, the occupancy rate rose from 51.5% to 57.6% in the same period.
Even though Makkah is also a destination to perform umrah during the Holy season of Ramadan, the occupancy rate slightly slipped from 41.6% last year to 41% in May 2017, but the Revenue per Room available (REVPAR) ticked up by 90.5% compared to May 2016.
Monthly Hotel Occupancy Rate of Beirut Hotels
Source: E&Y Middle East Hotel Benchmark Survey