In a surprising turn of events for the Middle East & Africa hotel markets, Jordan and Qatar stood out as the shining stars, showcasing the only month-over-month gross operating profit per available room (GOPPAR) improvements, as revealed by STR’s latest P&L data release in May 2023.
Jordan soared to new heights with a substantial 34.1% increase in its GOPPAR level, reaching an impressive US$66.77. This figure marked a significant 106% of what was recorded in May 2022, although it was slightly down from the stellar 369% index reported in April.
Meanwhile, Qatar displayed its resilience despite challenging circumstances, achieving a notable GOPPAR of US$37.95. Although down by 20.9% compared to the previous year, the market experienced a remarkable 39.0% surge in GOPPAR on a month-over-month basis, signaling hope for the industry’s gradual recovery. This improvement placed Qatar at 79% of May 2022 levels, firmly highlighting its potential.
Saudi Arabia emerged as another noteworthy contender, boasting a GOPPAR of US$71.75. The country’s performance was commendable, standing at 102% of the 2022 comparable, indicating steady progress in its hospitality sector.
These dynamic shifts in the hotel markets of Jordan, Qatar, and Saudi Arabia underscore the resilience and adaptability of the industry amidst uncertain times, offering a glimpse of hope for the future of travel and hospitality in the region.