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Thu 23 Nov 2017 01:28 PM

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Bahrain hotel room rates in October slump to 11-year low

Latest STR data shows that average daily rates at Bahraini hotels fall to lowest mark since 2006

Bahrain hotel room rates in October slump to 11-year low

Average daily rates (ADR) at Bahraini hotels fell to its lowest October mark for 11 years, according to new data released by analysts STR.

Hoteliers operating in the Gulf kingdom saw ADR drop by more than 8 percent to BD58.71 in October compared to the same month last year.

STR also said in its Middle East/Africa October 2017 report that revenue per available room (RevPAR) fell marginally to BD28.86.

Occupancy rose by 9.2 percent in October but was still below 50 percent at 49.2 percent, the data showed.

STR analysts noted that the year-over-year increase in occupancy came in comparison with a low base from October 2016, adding that the country’s absolute occupancy level was helped by two events in Manama - the Federation of Afro-Asian Insurers and Reinsurers 25th Conference and the Bahrain International Defence Exhibition and Conference.

For the wider Middle East region, occupancy rose by 3.3 percent to 64.9 percent in October compared to the year-earlier period.

ADR fell 4 percent to $163.27 while RevPAR dropped 0.8 percent to $106.04.

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