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Profit Grows at Beirut Hotels as Demand Thrives in Q1 2017

Profit Grows at Beirut Hotels as Demand Thrives in Q1 2017

Hotels in Beirut, Lebanon have a had a strong start to the year, recording a 21.0 per cent year-on-year increase in profit per room in Q1 2017, which has been on the back of a 7.2 per cent increase in RevPAR, as Lebanon welcomed a new government.

The top line growth at hotels in Beirut in March was primarily fuelled by the 10.1 per cent year-on-year increase in room occupancy, resulting in a 17.1 per cent increase in RevPAR, to $73.38.

Despite a 2.9 per cent increase in Overheads, hotels in Beirut successfully recorded a 49.5 per cent increase in profit per room for the month, which contributed to a 21.0 per cent increase in this measure for Q1 2017, marking a very strong start to the year.

At $24.73 in the 12 months to March 2017, the profit per room at Beirut hotels represents a peak in recent years and is equivalent to an increase of 4.5 times over the last 36 months, from just $4.45 during the same period in 2013/14.

The hotels profiled in this report are drawn from the HotStats database and reflect the portfolios and distribution of the hotel chains that we survey and which operate primarily in the four and five-star sectors.

The data samples are reviewed and rebased each year to reflect the changes in the HotStats survey base. As a result, performance ratios published last year may differ from those contained within this report at HOT STATS.

Read the full article: http://www.eturbonews.com/154329/profit-grows-beirut-hotels-demand-thrives-q1-2017

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