STR Weekly Insights: 3-9 November 2024 ...Middle East

U.S. elections paused the healthy gains in revenue per available room (RevPAR) seen over the previous four weeks. RevPAR dropped 3.5% (all comparisons are year-over-year unless otherwise noted) entirely due to occupancy down 2.3 percentage points (ppts) with average daily rate (ADR) basically flat (-0.1%). Monday and Tuesday showed the largest retreats with double-digit RevPAR declines of -13.3% and -13.7%, respectively. Wednesday also produced a RevPAR decline, while the rest of the week improved with Thursday up 4.6% and the weekend up 0.6%.

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