Hotels in the Middle East reported negative February 2018 performance results, that is according to data released by STR.
It was not all doom and gloom though as Lebanon experienced an increase in February rates for the first time since 2015.
There was good news for Oman as well, where demand reached an all-time high for February.
Lebanon
- Occupancy: -0.5% to 51.7%
- ADR: +2.5% to LBP149.81
- RevPAR: +2.0% to LBP77.53
The increase in ADR was the first for a February in Lebanon since 2015. According to STR analysts, security concerns continue to weigh on the country’s hotel performance. Demand, down 0.4% in February, has dropped year-over-year for four straight months. At the same time, supply growth has been minimal.
Oman
- Occupancy: +4.0% to 73.7%
- ADR: +1.7% to OMR174.85
- RevPAR: +5.8% to OMR128.87
Demand reached an all-time high for a February in Oman. ADR has now increased for two consecutive months in the country after three straight years of mostly ADR declines.
Middle East
- Occupancy: -0.7% to 70.5%
- Average daily rate (ADR): -7.3% to US$161.96
- Revenue per available room (RevPAR): -7.9% to US$114.26
