STR Reports Key Middle Eastern Hotel Markets Show Mixed Profitability in May

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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 index (at 79% of May 2022 levels).

Saudi Arabia (US$71.75) was the only other market to show a higher GOPPAR index over the previous month, at 102% of the 2022 comparable.

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

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About Mary Weyand 11096 Articles
Mary founded Scoop Tour with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the Automobile industry, she also contributes her knowledge for the Automobile section of the website.

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