up by 20 percent
Occupancy up by ten percent in summer
Revenue per available room (RevPAR) in Beirut is forecasted to increase by almost 20 percent this year, reaching $87, according to a survey conducted by Colliers International.
Occupancy rates are expected to reach 59 percent, up from an estimated 50 percent in 2016.
The average daily room (ADR) rate is forecast to remain stable at $146.
The analysis is based on operating data from a sample of 3-, 4-, and 5-star hotels and quality serviced apartments.
Pierre Achkar, Chairman of the Syndicate of Hotel Owners, said, “Occupancy rates have increased by ten percent in summer compared to the same period last year.”
But, according to Achkar, hotels, especially three and four-stars, did not witness an increase in room rates in comparison to historic highs. “Room prices are still 30 percent less than in 2010,” he said.
Date Posted: Sep 13, 2017