Wednesday 19 December 2018
 
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Hotels in Cairo enjoyed good growth during October

Hotels see decline in Mideast; good growth in Africa

LONDON, 28 days ago

Hotels in the Middle East reported October 2018 performance declines, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.
 
In the Middle East, occupancy was down 1.6 per cent to 63.8 per cent; average daily rate (ADR) fell 7 per cent to $151.11; and revenue per available room (RevPAR) too declined by 8.5 per cent to $96.46, said STR, which provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. 
 
In Africa, occupancy increased by 5.9% to 66 per cent; average daily rate (ADR) rose 8.2 per cent to $119.72; and revenue per available room (RevPAR) saw a growth of 14.5 per cent to $79.02.
 
Cairo and Giza hotels reported best October on record with occupancy rising 18.8 per cent to 78.0 per cent; ADR growing 9 per cent to EGP1,578.77; and RevPAR increasing 29.5 per cent to EGP1,231.76.
 
The absolute levels in each of the three key performance metrics were the highest for any October in STR’s database for the Cairo and Giza combined market. October also continued a trend of significant year-over-year performance increases in the market. STR analysts attribute this continued growth to further performance recovery and increased tourism aided by resumed flights with Russia as well as government campaigns to boost the attractiveness of the destination. At the same time, the market’s hotels have benefitted from a lack of supply growth, it said. -TradeArabia News Service
 



Tags: Middle East | hotels | Giza | STR |

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