According to the hotel market data and benchmarking provider, Middle East occupancy rose 1.9 percent to 69.1 percent, while a 3.4 percent ADR decline to USD170.28 pushed RevPAR down 1.6 percent to USD117.75.
Particularly, Saudi Arabia’s hotel development pipeline represents 76 percent of the country’s existing room supply. However, STR analysts stressed the importance of considering the long-term tourism and hospitality investments being made as part of Vision 2030.
Africa's hotel industry saw occupancy increase 5.7 percent to 53.4 percent, ADR increase 2.6 percent to USD126.55 and RevPAR increase 8.4 percent to USD67.54 during the month.
STR highlighted that Morocco’s year-on-year RevPAR increase was the country’s first for a January since 2014. STR analysts attribute a demand spike (16.1 percent) to the Marrakech FIA Formula E Championship race as well as the Marrakech Marathon.