The Middle East/Africa region reported positive year-over-year results in two of the three major performance metrics during March 2015 when reported in U.S. dollars, according to data compiled by STR Global.
The region reported a 3.2-percent increase in occupancy to 68.7 percent and a 0.7-percent rise in revenue per available room to US$118.04. Average daily rate, however, decreased 2.3 percent to US$171.82.
When looking at the three Middle East/Africa sub-regions, Northern Africa posted the top increases in all three performance metrics when reported in U.S. dollars. The sub-region experienced a 15.1-percent increase in occupancy to 52.2 percent, an 8.9-percent increase in ADR to US$93.49 and a 25.3-percent rise in RevPAR to US$48.78
Amongst the key countries in the region, Egypt experienced the highest increases in both ADR (+32.9 percent to US$86.64) and RevPAR (+61.5 percent to US$45.28).
Lebanon saw the highest increase in occupancy, up 27.0 percent to 48.5 percent. The country’s demand has increased for 11 consecutive months after the Gulf Cooperation Council lifted travel advisories in May 2014.
Morocco reported the steepest declines in both RevPAR (-23.4 percent to US$64.11) and ADR (-23.6 percent to US$109.83).
Highlights among the Middle East/Africa region’s key markets for March 2015 include (year-over-year comparisons, all currency in U.S. dollars):
The region reported a 3.2-percent increase in occupancy to 68.7 percent and a 0.7-percent rise in revenue per available room to US$118.04. Average daily rate, however, decreased 2.3 percent to US$171.82.
When looking at the three Middle East/Africa sub-regions, Northern Africa posted the top increases in all three performance metrics when reported in U.S. dollars. The sub-region experienced a 15.1-percent increase in occupancy to 52.2 percent, an 8.9-percent increase in ADR to US$93.49 and a 25.3-percent rise in RevPAR to US$48.78
Amongst the key countries in the region, Egypt experienced the highest increases in both ADR (+32.9 percent to US$86.64) and RevPAR (+61.5 percent to US$45.28).
Lebanon saw the highest increase in occupancy, up 27.0 percent to 48.5 percent. The country’s demand has increased for 11 consecutive months after the Gulf Cooperation Council lifted travel advisories in May 2014.
Morocco reported the steepest declines in both RevPAR (-23.4 percent to US$64.11) and ADR (-23.6 percent to US$109.83).
Highlights among the Middle East/Africa region’s key markets for March 2015 include (year-over-year comparisons, all currency in U.S. dollars):
- Cairo, Egypt, reported the largest increase in occupancy, up 38.2 percent to 51.6 percent. Beirut, Lebanon, followed with a 26.7-percent increase to 49.0 percent.
- Amman, Jordan, experienced the largest decrease in occupancy, down 18.0 percent to 54.6 percent.
- Doha, Qatar (+11.4 percent to US$207.22) and Manama, Bahrain (+9.6 percent to US$219.69) posted the largest increases in ADR.
- Muscat, Oman, saw the largest drop in ADR, down 9.2 percent to US$228.06.
- Two markets reported RevPAR increases of more than 30.0 percent: Cairo, Egypt (+41.2 percent to US$53.84) and Beirut (+31.9 percent to US$72.98).
- Amman experienced the largest decrease in RevPAR, down 20.3 percent to US$88.20.
The European hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, Euros and British pounds for March 2015. Amongst Europe’s sub-regions, Northern Europe saw double-digit growth for ADR (+14.2 percent to EUR110.53) and RevPAR (+16.2 percent to 80.31 euros) when compared to March 2014. Within the sub-region, Ireland drove the increases with significant gains in both ADR (+9.4 percent to 97.33 euros) and RevPAR (+17.9 percent to 71.81 euros).
Southern Europe (+13.0 percent to EUR61.90) also experienced a double-digit increase in RevPAR. Spain served as the primary driving factor for the sub-region with a 22.7-percent increase in RevPAR to 64.45 euros. Barcelona, Spain, hosted the Mobile World Congress Conference in early March.
Eastern Europe recorded the highest occupancy increase (+8.3 percent to 56.2 percent) but experienced the steepest decline in ADR (-5.1 percent to 70.14 euros).
Amongst countries in Europe, eight experienced RevPAR increases of at least 15.0 percent when reported in Euros: Malta (+26.7 percent to 58.85 euros); Spain (+22.7 percent to 64.45 euros); Lithuania (+18.7 percent to 28.55 euros); Czech Republic (+18.6 percent to 38.04 euros); Hungary (+18.6 percent to 38.01 euros); Ireland (+17.9 percent to 71.81 euros); Israel (+17.4 percent to 96.25 euros); and Slovakia (+15.0 percent to 32.23 euros).
Israel recorded the highest increase in ADR when reported in euros, up 28.2 percent to 161.58 euros. The country also experienced the largest decline in occupancy (-8.4 percent to 59.6 percent).
Slovakia posted the highest increase in occupancy, up 13.1 percent to 53.3 percent.
Russia experienced the largest decreases in ADR (-21.1 percent to 76.52 euros) and RevPAR (-18.2 percent to 37.94 euros). The country’s performance continues to be affected by international sanctions. The devaluation of the Russian ruble, which began late last year, has led to greater performance drops for the first quarter of 2015 when compared to the same months from 2014.
Highlights from key market performers for March 2015 include (year-over-year comparisons, all currency in euros):
- Six markets recorded double-digit occupancy increases, led by Copenhagen, Denmark, where occupancy was up 12.5 percent to 70.9 percent.
- Moscow, Russia, reported the largest occupancy decrease, falling 6.7 percent to 55.8 percent.
- Barcelona experienced the largest ADR increase for the month, up 44.0 percent to 148.55 euros. Tel Aviv, Israel, followed with a 27.3-percent increase to 210.12 euros. Overall, eight markets recorded double-digit ADR increases for the month.
- Moscow reported the largest ADR decrease, falling 22.2 percent to 95.49 euros. Saint Petersburg, Russia, experienced the second-largest ADR decrease, dropping 14.4 percent to 55.31 euros.
- Three markets experienced RevPAR increases of more than 20.0 percent, including Barcelona (+53.9 percent to 108.12 euros). Tel Aviv followed with a 24.0-percent increase to 142.80 euros.
- Moscow (-27.4 percent to 53.24 euros) reported the largest RevPAR decrease.
The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars during March 2015. Compared to March 2014, the Americas region reported a 2.2-percent increase in occupancy to 66.6 percent, a 4.1-percent increase in average daily rate to US$122.35 and a 6.3-percent increase in revenue per available room to US$81.44.
Among the key markets in the region, Sao Paulo, Brazil, reported the largest occupancy increase, up 11.1 percent to 69.2 percent. Boston, Massachusetts, followed with a 9.3-percent occupancy increase to 75.2 percent.
Buenos Aires, Argentina, experienced the largest occupancy decrease, down 7.1 percent to 59.4 percent.
San Francisco/San Mateo, California, posted the largest ADR increase, rising 13.5 percent to US$210.50. Boston followed with a 10.5-percent increase to US$170.05.
Boston also reported the largest RevPAR growth, up 20.7 percent to US$127.93.
Rio de Janeiro, Brazil, experienced the steepest decreases in both ADR (-33.5 percent to US$160.89) and RevPAR (-37.1 percent to US$110.14).
