By Sam Bridge
STR says occupancy in Manama rose by 3.5% to 55.5% in third quarter, its highest level since Q3 2010
Bahrain hotels have reported their highest third quarter occupancy levels for nine years, according to new figures from analysts STR.
STR said occupancy in Manama, the capital city, rose by 3.5 percent to 55.5 percent in Q3, its highest level since Q3 2010.
However, average daily rates, which stood at BD58.59 in Q3, were the second lowest for the third quarter since 2008, suggesting hoteliers were slashing rates to improve occupancy in the period.
STR analysts noted that August was the strongest month of the quarter when looking at absolute values - occupancy (59.3 percent), ADR at BD61.33 and revenue per available room (RevPAR) at BD36.38. RevPAR for the quarter stood at BD32.51.
Hotels across the wider Middle East reported mixed Q3 performance results.
Occupancy was up by 2.4 percent to 62.2 percent while ADR fell by 6.7 percent to $131.49 and RevPAR dropped by 4.5 percent to $81.80.