Data from HotStats shows hotel industry is seeing a rebound in the region
The Middle East has now had 10 consecutive months of positive profit performance.
The Revenue per Available Room (RevPAR) in May has increased 222 percent year-on-year in the Middle East, reported hoteliermiddleeast.com quoting hotel benchmarking firm HotStats.
“The Middle East is riding a nice rebound on the back of higher rates and rising occupancy. RevPAR in the month (May) was recorded at $76.57, a 222 percent increase over the prior year, helping lead to TRevPAR of $120.88, a 228 percent increase over the same time a year ago,” HotStats said.
According to HotStats’ data, the Middle East has now had 10 consecutive months of positive profit performance.
In April 2021, analytics firm STR found RevPAR and ADR (average daily rate) actually decreased year on year for all hotel segments in Dubai, apart from the luxury and ‘uber luxury’ properties.
Time Hotels CEO Mohamed Awadalla has called on the Dubai government to help raise room rates. However, a recent report from KPMG found that the vast majority of Dubai hotel guests expect room rates to be lower if certain facilities are unavailable due to the effect of Covid.
As for the other regions, only the US saw RevPAR increase more with 539 percent and $86.71.