middle east hotel market
Key Middle East Markets Show Mixed Profitability in May
STR | July 10, 2023
LONDON— Among key hotel markets in Middle East & Africa, Jordan and Qatar realized the only month-over-month gross operating profit per available room (GOPPAR) improvements, according to STR’s May 2023 P&L data release. Jordan’s GOPPAR level reached US$66.77 in May, showing a significant month-over-month increase (+34.1%). That level was 106% of what was seen in May 2022, but was down from the 369% index reported in April. Qatar reached a GOPPAR of US$37.95, down 20.9% year over year. The market, however, saw a month-over-month jump of 39.0% and was one of the only markets to show an improvement in the i...
Middle East’s Travel & Tourism Sector Could Grow to US$246 Billion in 2022, Says WTTC
WTTC | March 2, 2022
London, UK - March 2, 2022 - New research from the World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in the Middle East could reach US$246 billion this year, just 8.9% behind pre-pandemic levels. In 2019, before the pandemic struck and began to devastate economies around the world, the Travel & Tourism sector in the Middle East was booming, generating US$270 billion to the region’s economy. However, in 2020, when COVID-19 brought international travel to an almost complete standstill, its contribution more than halved, plummeting 51.1%, suffering a brutal loss of more than US$138 billion. L...
