Hotels in the Middle East reported mostly negative February 2020 performance results, while hotels in Africa posted mixed results across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, February 2020 vs. February 2019
• Occupancy: -3.0% to 69.8%
• Average daily rate (ADR): -10.3% to US$133.40
• Revenue per available room (RevPAR): -13.0% to US$93.07
• Occupancy: -0.4% to 61.6%
• ADR: +1.4% to US$113.31
• RevPAR: +1.0% to US$69.78
February data had not yet shown the full COVID-19 impact on hotels across the region.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com.
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