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Mideast shows robust RevPAR recovery in 2022: STR

LONDON, January 26, 2023

Middle Eastern hotels recorded revenue per available room (RevPaR) of $110.12 during 2022, reflecting an increase of 18.2 per cent over the figures of 2019, said STR, a provider of analytics and insights for global hospitality sectors.

The occupancy rate of the hotel sector reached 63.6% during the year, a 3.3% decline from the 2019 rates, while the average daily rate (ADR) skyrocketed 22.2% to $173.10.

Among the global regions, Asia saw the only decline in revenue per available room (RevPAR) from 2019, according to 2022 data from STR.

“While most global regions were impacted by omicron in early 2022, top-line performance recovery made big waves in the latter half of the year,” said Robin Rossmann, STR’s managing director.

“The industry’s resilience has been underpinned by significant pent-up leisure travel over the summer along with the return of corporate demand, as the nature and length of this business travel has evolved.

“Unlike previous downturns, room rates have been the key driver of recovery as each of the global regions, excluding Asia, showed an ADR increase over 2019. Though occupancy came in below the pre-pandemic comparables, the metric is anticipated to stabilize throughout 2023. Despite economic headwinds, the industry is operating from a position of strength in the new year,” Rossman added.  

As USD constant currency, 2022 (percentage change from 2019):

Europe
•    Occupancy: 64.6% (-10.5%)
•    Average daily rate (ADR): $148.97 (+18.5%)
•    Revenue per available room (RevPAR): $96.25 (+6.1%)

Asia
•    Occupancy: 52.3% (-23.7%)
•    ADR: $84.38 (-9.9%)
•    RevPAR: $44.16 (-31.2%)

Australia & Oceania
•    Occupancy: 63.9% (-13.6%)
•    ADR: $162.34 (+20.8%)
•    RevPAR: $103.74 (+4.3%)

Africa
•    Occupancy: 54.2% (-10.7%)
•    ADR: $140.74 (+38.3%)
•    RevPAR: $76.29 (+23.5%)

North America
•    Occupancy: 62.5% (-4.9%)
•    ADR: $148.39 (+13.9%)
•    RevPAR: $92.77 (+8.3%)

South America
•    Occupancy: 57.0% (-3.2%)
•    ADR: $87.57 (+30.3%)
•    RevPAR: $49.93 (+26.2%) – TradeArabia News Service




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