The market will play host to the Africa Hotel Investment Forum (AHIF) on September23-25, at the Sheraton Addis.
From July 2018 through June this year, Addis Ababa registered an absolute ADR of USD163,79 when measured in constant currency, which removes the effects of inflation.
That figure was a 1,1 percent increase year over year. The next closest STR-defined markets in Africa were Accra Area, Ghana (USD160,34) and Lagos Area, Nigeria (USD132,51).
“Addis Ababa continues to maintain high ADR levels when compared internationally,” said Thomas Emanuel, a director for STR. “The city has multiple demand drivers, such as a growing economy, successful airline and its status as the diplomatic capital for Africa. Air connections and ease of access compared with other cities also factor in the equation for strong demand, which provides hoteliers with the confidence to maintain rate levels.
Addis Ababa’s occupancy over the same 12-month time period was 58,4 percent, up 6,5 percent year over year.
Cairo and Giza was the continent’s occupancy leader at 74,5 percent. Cape Town Centre, South Africa (65 percent) ranked second in the metric followed by Accra Area (59,7 percent).