Double-Digit Profit Dip in December Punctuates Down Year for Middle East & North Africa Hotels

Profit per room at hotels in the Middle East & North Africa fell by 10.6 percent year-over-year in December and contributed to a 6.0-percent decline for full-year 2018, as revenues declined and costs spiraled, according to the latest data tracking full-service hotels from HotStats. Positive profit growth was only achieved in four months of the year, and, further, there have only been six months of profit growth in the last two years. The fourth quarter was particularly challenging, with three consecutive months of large profit decline—in October (down 8.1 percent), November (down 8.8 percent) and now December. Revenues declined across all departments, including Rooms (down 1.5 percent), Food…