Manama Hotels Report Highest August Occupancy Since 2008

Hotel occupancy in Manama reached its highest level for August in a decade, according to new data from analysts STR.

The hospitality market in the Bahraini capital city saw occupancy soar by more than 17 percent to over 60 percent last month compared to the same month last year.

STR said this was the highest absolute occupancy rate in Manama since 2008.

Its data also showed that average daily rates (ADR) for hotels in the city rose by 7.5 percent to BD63.50 while revenue per available room (RevPAR) jumped by 26 percent to BD38.33 compared to August 2017.

STR said in a statement: “Demand growth (up 26.9 percent) was in the double digits for the third consecutive month, and absolute occupancy reached its highest level for an August in the market since 2008.”

It added that year-over-year performance comparisons were enhanced by the calendar shift to an earlier Eid al-Adha than 2017.

For the wider Middle East region, STR data showed that occupancy rose by 2 percent to 63.4 percent while ADR increased by 12.2 percent to $169.63 and RevPAR jumped by 14.5 percent to $107.50.

 

Source Credit: Arabian Business