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Middle East hotels perform lower than 12 months ago

Patrick Ryan by Patrick Ryan
December 28, 2017
in News
A A

Hotels in the Middle East reported negative performance results during November 2017 – according to figures released by STR.

Burj KhalifaU.S. dollar constant currency, November 2017 vs. November 2016

Middle East:

  • Occupancy: -1.8% to 69.6%
  • Average daily rate (ADR): -4.6% to US$171.10
  • Revenue per available room (RevPAR): -6.3% to US$119.01

STR analysts note that consistent declines in RevPAR over the past two years correlates with the drop in oil prices. Qatar, Bahrain and Saudi Arabia have experienced the steepest performance decreases in 2017, and all have been significantly affected by reduced corporate business.

Tags: DubaiGCCHotel News Middle EastSTRuae

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