F1 race helps Bahrain hotels to post first Q1 RevPAR rise for five years

New data released by analysts STR shows hoteliers in Manama witnessed strong demand of 15.1% in the first three months of 2019
F1 race helps Bahrain hotels to post first Q1 RevPAR rise for five years
STR analysts partially attributed that March performance to the F1 Grand Prix at the end of the month.
By Sam Bridge
Tue 14 May 2019 04:47 PM

Hotels in the Bahraini capital of Manama reported their first Q1 increase in revenue per available room (RevPAR) since 2014, according to new data released by analysts STR.

Hoteliers in Manama witnessed strong demand of 15.1 percent in the first three months of 2019 versus supply growth of only 2.3 percent, which boosted performance levels.

Occupancy in Manama rose 12.5 percent to 58.4 percent in Q1 while ADR increased 1.6 percent to BD59.78 ($158.52) and RevPAR soared by 14.3 percent to BD34.93.

STR said March was the best month of the quarter in Manama with a 17.4 percent rise in occupancy and a 5.5 percent lift in average daily rates (ADR), which resulted in a 23.8 percent jump in RevPAR.

STR analysts partially attributed that March performance to the F1 Grand Prix at the end of the month.

Hotels in the wider Middle East region reported mixed Q1 performance results.

Occupancy rose slightly by 0.9 percent to 71 percent while ADR fell by 8.8 percent to $148.43 and RevPAR fell by 7.9 percent to $105.33.

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