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COVID-19 webinar summary: 5 key points on Middle East and Africa, 7 May

Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in the Middle East and Africa.

Q1 data shows significant occupancy and ADR declines in the Middle East

The Middle East has faced challenges growing average daily rate (ADR) for several years now, following the oil crash of 2014 and continued hotel supply growth. COVID-19 has essentially accelerated declines in both rate and occupancy, and the effect has been felt in key markets across the region

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Q1 data shows significant occupancy and ADR declines in the Middle East

Riyadh reports the highest occupancy level in Middle East

Saudi Arabia’s capital, Riyadh, reported the highest absolute occupancy level (66%) in the Middle East for the week ending 3 May. Some of the year-over-year occupancy declines in the region could be in part due to comparisons with last year’s Ramadan period (5 May through 4 June 2019).

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Riyadh reports the highest occupancy level in Middle East

An update on Abu Dhabi’s business on the books

Forward STAR data for Abu Dhabi presents a picture of strong demand on the books for Ramadan (23 April through 23 May) and Eid al-Fitr (23-24 May). The below image includes business on the books for the next 365 days as at 4 May, and further insights are provided in the full webinar recording.

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An update on Abu Dhabi’s business on the books

Cape Town, one of the cities most affected by COVID-19 in Africa

Despite resisting declines until mid-March, occupancy decreases have been more pronounced since lockdown measures were introduced. As the image shows below, occupancy levels have decreased by almost 90%, as of the week ending 3 May.

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Cape Town, one of the cities most affected by COVID-19 in Africa

Occupancy, the main driver behind RevPAR declines

Cape Town and Cairo posted the highest occupancy declines for the week ending 3 May, -95% and -93%, respectively. These occupancy declines led to the worst RevPAR declines in the region.

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Occupancy, the main driver behind RevPAR declines

Watch the full recording of the webinar here. For further insights into COVID-19’s impact on global hotel performance, visit our content hub.

Tags
Hotels
Forward Data
Industry Updates
Historical Data
Middle East and Africa