Bahrain Hotel Sector Going through a Rough Time, Occupancy Dropped to 25% in May
2018-06-29 - 7:47 p
Bahrain Mirror: The latest report by analytics firm STR has revealed some troubling numbers regarding Bahrain's hotel industry, stressing that Bahrain's tourism market suffered from a decline in key performance indicators in May.
"Bahrain reported only 14 days with revenue per available room (RevPAR) growth in May, most of which came at the end of the month. STR analysts note that the country's year-over-year performance was affected by the Ramadan calendar shift as well as a surplus in new supply (+9.1%)," the report explained.
It further stated "The trend of new rooms entering the market is likely to continue as Bahrain currently has 2,184 rooms in construction, roughly 13% of the country's existing supply."
Occupancy dropped 24.6% to 40.1%, whereas average daily rates' (ADR) drop by 12.4% left it at a value of $157.95 (BHD 59.76).
RevPAR dropped 33.9% to $63.41 (BHD23.99).
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