Manama hotels post best Q3 occupany rates for nine years

      Published on Friday, 1 November , 2019      594      
Manama hotels post best Q3 occupany rates for nine years

  • Bahrain News

Bahrain hotels have reported their highest third quarter occupancy levels for nine years, according to new figures from analysts STR.

STR said occupancy in Manama, the capital city, rose by 3.5 percent to 55.5 percent in Q3, its highest level since Q3 2010.

However, average daily rates, which stood at BD58.59 in Q3, were the second lowest for the third quarter since 2008, suggesting hoteliers were slashing rates to improve occupancy in the period.

STR analysts noted that August was the strongest month of the quarter when looking at absolute values – occupancy (59.3 percent), ADR at BD61.33 and revenue per available room (RevPAR) at BD36.38. RevPAR for the quarter stood at BD32.51.

Hotels across the wider Middle East reported mixed Q3 performance results.

Occupancy was up by 2.4 percent to 62.2 percent while ADR fell by 6.7 percent to $131.49 and RevPAR dropped by 4.5 percent to $81.80.

Category Bahrain News, Business | 2019/11/01 latest update at 11:38 AM
Source : Arabian Business | Photocredit : Google
Comments Add comment

Gulf Media

Related Articles

The editorial staff of Bahrain Today would like to give all of its readers from Gulf and Bahrain and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bahrain Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Bahrain, the Gulf and the world.