Lebanon Businessnews News

Beirut hotel occupancy
rates and room yields up
European visitors topped the list last year
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Beirut hotel occupancy in five and four star hotels grew 1.4 percentage points last year, compared to 2017, reaching a total rate of 65.1 percent, according to Ernst & Young’s Middle East hotel benchmark survey.

Occupancy rates have been on the rise since 2015, registering 58 percent that year, and 59 percent in 2016.

The increase last year was accompanied by a 2.3 percent growth in the average room rate from $184 in 2017 to 188. Revenues per available room (RevPAR) increased by 4.5 percent to $122.

“The stable security situation, which has been witnessed for more than two years, and the cooperation between the private and public sectors contributed to improving the rates,” said Pierre Achkar, Chairman of the Syndicate of Hotel Owners.

“The ‘Visit Lebanon’ events, which have been held for the last two years to promote the country, has borne fruit. It attracted more than 300 tour operators and travel agencies from a wide range of countries, who are encouraging tourists to visit the country,” Achkar said. This step has helped attract tourists of various nationalities, including Europeans, who were the largest group to visit the country (706,000 tourists).

“We expect improvements in the occupancy rates this year, especially because Saudi Arabia has lifted the travel advisory,” Achkar said.
Reported by Rania Ghanem
Date Posted: Mar 11, 2019
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