According to HotStats, the region’s hospitality sector is rebounding with higher rates and rising occupancy
Hotel benchmarking firm HotStats has reported that May’s hotel revenue per available room (RevPAR) has increased 222% year-on-year in the Middle East.
A HotStats representative said: “The Middle East is riding a nice rebound on the back of higher rates and rising occupancy. RevPAR in the month was recorded at $77, a 222% increase over the prior year, helping lead to total revenue per available room (TRevPAR) of $121 – a 228% increase over the same time a year ago.”
The steep spike in revenue is partly due to the hospitality industry coming close to a standstill during the height of the pandemic in May 2020.
Outside of the Middle East, only the US saw a superior RevPAR increase of 539%.
For more information, visit www.hotstats.com