August 2018: El al-Adha Festival Drives Profit Growth For Hotels In Middle East & Africa

Profit per room at hotels in the Middle East & Africa increased by 25.6 percent year-on-year in August, with multiple markets across the region benefitting from celebrations to mark the Eid al-Adha Holy festival, according to the latest data tracking full-service hotels from HotStats. This was only the third month of profit growth at hotels in the Middle East & Africa this year, but it was the largest year-on-year margin of increase for at least a year, with GOPPAR hitting $60.08 for the month—almost $25 above last month’s historic low at $35.81. “Eid al-Adha is one of the most important festivals in the Islamic calendar and one of…