Middle East hotels reported negative results during July 2017, according to data from STR.
Following performance increases in June boosted by post-Ramadan celebrations, Bahrain hotels saw sharp declines in July. Those decreases fell more in line with recent trends in the country, as RevPAR through July was down 6.9% compared with the first seven months of 2016.
Occupancy: -1.0% to 49.3%
ADR: -11.5% to BHD64.91
RevPAR: -12.4% to BHD32.03
Saudi Arabia’s performance declines followed a weak first half of 2017, and July year-to-date RevPAR is down 15.1%. STR analysts note that although the country’s hotel performance is typically lower during the summer months, the double-digit declines for July 2017 reflect the impacts of low oil prices and high hotel supply growth.
- Occupancy: -5.2% to 48.0%
- ADR: -31.6% to SAR625.78
- RevPAR: -35.2% to SAR300.14
- Occupancy: -2.8% to 56.1%
- Average daily rate (ADR): -16.1% to US$134.00
- Revenue per available room (RevPAR): -18.4% to US$75.20