MENA Hotels Profit-Losing Streak Continues
August marked the 12th consecutive month of profit decline at hotels in the Middle East and North Africa, as profit per room fell by 7.0% year-over-year to $58.06.
Middle East and Africa hotel performance update
Hotels in the Middle East reported mixed July 2019 performance results, while hotels in Africa posted increases across the three key performance metrics, according to data from STR.
MENA: Lower revenues, higher costs sink profits
2018 was a bruising year for hotels in the Middle East & North Africa, as an intersection of oversupply, political fallout and macro-economic worry challenged profitability.
