A forecast report conducted by Colliers International for the hotels of the Middle East and North Africa (MENA) region for the three-month period from September to November 2017 showed that Beirut and Aqaba are the key touristic cities in the region.
In Beirut, an increase in revenue per available room (RevPAR) is expected to take place and emanate from both the average daily rate (ADR) and the occupancy rates, according to Colliers International’s report.
The report expected the city to make use of better security conditions and the lifting of travel bans.
As for the Jordanian Aqaba, the report showed it continues to benefit from the domestic demand and the that from visitors of Scandinavian countries, as well as capturing tourists from both Egypt and Turkey.
Other MENA cities are steady in terms of hotel occupancy, such as Sharjah, where the hotel market in the city is going through a recovery phase with modest growth in its occupancy rate.
Ras Al Khaimah is expected to benefit from the strong local demand from international leisure demand from Germany, UK, Russia, and India and will keep the three-month RevPAR growth in line with last year.
In Riaydh, both occupancy and the ADR levels continue to decline because of a drop in demand by the corporate and leisure segments.
“A combination of new supply and lower demand has resulted in a dip in revenue per available room, which is expected to carry into the three next months,” the report said.
According to the report, Sharm El-Sheikh continues to feel the repercussions of travel alerts from a number of European feeder markets.
Colliers International is a global company in commercial and real estate services, with over 15,000 employees operating in 68 countries.