COVID-19 Middle East update...© 2020 STR. All Rights Reserved. Middle East Southern Africa Northern...
Transcript of COVID-19 Middle East update...© 2020 STR. All Rights Reserved. Middle East Southern Africa Northern...
Source: 2020 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR is strictly prohibited. Any such reproduction shall specifically credit STR as the source. This presentation is based on data collected by STR. The information in the presentation should not be construed as investment, tax, accounting or legal advice.
COVID-19 Middle East update11th May 2020Philip Wooller – Area Director MEA
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Middle East
Southern Africa
Northern Africa
77%
Levels of hotels closures vary significantly around the worldPercentage of STR participating hotels closed as at 30th April 2020
Europe
Asia17%
72%
76%
57%
78%
36%38%
Australia & Oceania
23%
North America
Central America
South America excl. Venezuela
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Middle East
Southern Africa
Northern Africa
47.7%
Global Occupancy for Q1 at 49.4%Occupancy, Q1 2020
Europe
Asia51.6%
51.2%
48.8%
46.5%
50.1%
59.2%42.1%
Australia & Oceania
62.7%
North America
Central America
South America
© 2020 STR. All Rights Reserved.
Middle East
Southern Africa
Northern Africa
10.8%
Global Occupancy now at 23.4%.............Occupancy, April 30th 2020
Europe
Asia23.1%
7.8%
10.1%
10.6%
13.9%
30.5%29.1%
Australia & Oceania
22.1%
North America
Central America
South America
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Middle East
Southern Africa
Northern Africa
-86.6%
Global RevPAR % ChangeUSD, Europe in EUR, Constant Currency, April 30th 2020
Europe
Asia-80.6%
-89.7%
-90.5%
-90.3%
-86.1%
-74.0%-77.1%
Australia & Oceania
-43.3%
North America
Central America
South America
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The Middle East
Source: STR. 2020 © CoStar Realty Information, Inc.
Key Middle Eastern cities - Percentage of rooms closed
MuscatJeddah Abu Dhabi
DubaiManama
Doha
Amman
Beirut
Riyadh12
33
1021
11
38
3643
Kuwait City 26
Makkah 8217
As at the 30th April 2020
Source: STR. 2020 © CoStar Realty Information, Inc.
Middle East – double digit occupancy decline Q1 2020USD, Constant Currency
Source: STR. 2020 © CoStar Realty Information, Inc.
Occupancy
71%+0.7%
ADR
148-9.1%
RevPAR
105-8.5%
Occupancy
59%-16.7%
ADR
136-7.9%
RevPAR
80-23.2%
Q1 2019
Q1 2020
Source: STR. 2020 © CoStar Realty Information, Inc.
Middle East actuals for 2019 & “Philip’s predictions” for Q2 2020USD, Constant Currency
Source: STR. 2020 © CoStar Realty Information, Inc.
Occupancy
62%+2.0
ADR
146-7.7%
RevPAR
90-5.8%
Occupancy
29%-53.2%
ADR
103-29.0%
RevPAR
30-66.6%
Q2 2019
Q2 2020
Source: STR. 2020 © CoStar Realty Information, Inc.
-90%
-80%
-70%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
Occ ADR RevPAR
On average ADR is down over 40% across the Middle East Daily ADR % change vs prior year, 1st February to 3rd May 2020
Source: STR / 2020 © CoStar Realty Information, Inc..
Key Middle Eastern markets – it’s a very mixed bagOccupancy & ADR, USD $, Month of April 2020
3%
15% 16%19% 19% 20%
22%24%
38%
45%48%
50%
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
Medina Makkah Kuwait City Manama Jeddah Muscat Amman Dubai Riyadh Al Khobar &Dammam
Abu Dhabi Qatar
ADR Occupancy
Source: STR / 2020 © CoStar Realty Information, Inc..
Declines could be greater in the Middle East than in any other region Average Occ, ADR % RevPAR % change across Forecast Markets*, March Forecast
-20% -21%
-39%
-27%
-43%
-15%
-9%
-18%-14% -14%
-31%-28%
-54%
-37%
-51%
China Markets Asia Markets Excl. China Middle East Europe Markets Total US
OCC ADR RevPAR
Notes: * Average forecast for selected markets in each region for China, Asia and Europe, Middle East
Source: STR. 2020 © CoStar Realty Information, Inc.
Operational Innovation
13
Source: STR / 2020 © CoStar Realty Information, Inc..
2020 Top Tips for the Summer!!
Ras Al Khaimah BeachBeach & Resorts Dubai Downtown
55% 48% 54%
© 2019 STR. All Rights Reserved.
2020 Top Tips for the Summer!!
Abu Dhabi Oman Resorts
60% 55%
Musandam
Source: 2020 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR is strictly prohibited. Any such reproduction shall specifically credit STR as the source. This presentation is based on data collected by STR. The information in the presentation should not be construed as investment, tax, accounting or legal advice.
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