According to Ernst & Young Middle East hotel benchmark survey, the occupancy rate in Beirut’s 4- and 5-star hotels reached 40% percentage points (pp) by April 2022, up from last year’s percentage of 29%.
On a monthly performance, Beirut occupancy rate retreated by 8.8% in April 2022 compared to April 2021, to reach 25.8%. The average room rate has decreased by 19.7% from $90.1 in April 2021 to reach $72.3 in April 2022.
As such, RevPAR (Revenue per available room) decreased by 40.1% in USD during the same period; $31.2 in April 2021 to $18.7 in April 2022.
On a regional level, the occupancy rates in Dubai overall increased by 24.3% yearly to 79.4%. By the same token, the Average room rate and Room yields both increased by 109.3% and 201.8% to stand at $157and $124.6, respectively by April 2022.
In turn, in KSA, Riyadh’s hotel occupancy rate increased by 19.5% to reach 65.5% by April 2022, and average room rate added 29% to $177.4 by the same period. Furthermore, for Makkah city, the Average room rate increased by 36.1% to $210.3.
Moreover, in Amman, occupancy rate added 19.7% to reach 35.8% by April 2022, average room rate increased by 27.5% to reach $141.2 per night; moreover room yield grew by 183.5% to $50.6.
Source: EY, BlomInvest