Beirut hotels reached 49.6 percent occupancy rate in 2022

According to data relayed by Byblos Bank's "Lebanon This Week," the numbers, which were reported by Ernst & Young (EY) 's "Middle East Hotel Benchmark Survey Report," indicated that the occupancy rate at four- and five-star hotels in Beirut reached 49.6 percent in the first 11 months of 2022, in comparison to 42.5 percent during the same period of 2021.  

However, compared to an average of 60 percent in 13 Arab markets, Beirut hotels' occupancy rate was the region's third lowest in the first 11 months of 2022, while it was the seventh lowest in 2021.  

In the details, the occupancy rates at Beirut hotels reached 34.7 percent in January, 43.8 percent in February, 55.7 percent in March, 25.8 percent in April, 52.5 percent in May, 60.4 percent in June, 75 percent in July, 64 percent in August, 68.5 percent in September, 41 percent in October, and 39.3 percent in November 2022.  

The survey added that the average rate per room was $46, compared to $45 in 2021, which constituted the lowest rate in the region.  

Additionally, the revenues per available room were recorded at $23 in the first 11 months in contrast to $19 in the same period in 2021, adding that Beirut hotels' revenues per available room rose by 20.3 percent in 2022, which posted the third lowest increase regionally during the period covered.