Saturday 24 July 2021

Covid-19 hits MEA hotels' performance badly in April

DUBAI, May 26, 2020

Showing the impact of the Covid-19 pandemic, hotels in the Middle East and Africa reported unprecedented performance lows during the month of April, according to data from STR - a leading market research firm.
Occupancy levels in the Middle East dropped 58 per cent to 31.2 per cent, and average daily rate (ADR) declined 35.1 per cent to $95.54, forcing revenue per available room (RevPAR) to drop 72.7 per cent to $29.82.
In Saudi Arabia, occupancy rates were recorded at 31.8 per cent in April, a 50.4 per cent dip comapred to the same period in 2019. However, ADR moved up 4.9 per cent to SAR474.66 ($126) while RevPAR slipped 47.9 per cent to SAR151.11 ($40).
The absolute occupancy level in Saudi Arabia was the lowest for any April since 2003. Key markets in the country, Jeddah and Riyadh, recorded 53.9 per cent and 39.9 per cent occupancy declines, respectively. 
In Qatar, occupancy was down 33 per cent to 48.8 per cent but ADR climbed 4.6 per cent to QAR410.36 ($112.3). RevPAR dipped 29.9 per cent to QAR200.45 ($54.8).
The absolute occupancy level was the lowest for any April in STR’s Qatar database. At the market-level, Doha Centre experienced a drop in occupancy of 32.4 per cent.
In Africa, occupancy rates declined 79.8 per cent to 12.5 per cent and ADR also dropped 31.1 per cent to $77.85, resulting in RevPAR dipping 86.1 per cent to $9.75.
Both the Middle East and Africa saw their lowest absolute occupancy and RevPAR levels for any month on record.  - TradeArabia News Service


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