According to Ernst & Young Middle East hotel benchmark survey, the occupancy rate in Beirut’s 4- and 5-star hotels reached 35% by April 2021, down from last year’s registered 2% during the same period.
On a monthly performance, Beirut occupancy rate recorded an uptick of 32.2 percentage point (pp) in April 2021 compared to the same period last year. Furthermore, the average room rate has increased by 242.9% from $81 in April 2020 to $279 in April 2021, which led to an upsurge in RevPAR (Revenue per available room) growth of 4,900.1% during the same period; from $2 to $97 in April 2021. Important to mention, that the increase is inflated by valuing the room rates at the official exchange rate of LBP 1,500 for USD.
On a regional level, the occupancy rates in Dubai overall increased by 47.1% year-to-date (YTD) to 61%. By the same token, the Average room rate and Room yields both increased by 146.1% and 974.2% to stand at $295 and $180, respectively by April 2021.
In turn, in KSA, Madinah’s hotel occupancy rate increased by only 24.9% and average room rate decreased by 24.5% to $118 by April 2021. Accordingly, the Average room rate increased by 425.6% to $237 for Makkah city. To note, Makkah’s hotel industry showed improved performance with the return of Umrah this year strictly for vaccinated or COVID-recovered pilgrims only.
Moreover, in Amman, occupancy rate dropped by 5.7% to 11% by April 2021, average room rate increased by 14.3% to reach $123 per night however room yield dropped by 24.1% to $14.
As Arab countries witnessed lower Covid-19 cases and recovered from the pandemic, some hotels in Middle East countries recorded higher occupancy rates during the month of Ramadan and Eid season, compared with last year.
Occupancy Rates in Beirut’s 4&5-Star Hotels by April