Lower Revenues, Higher Costs Lead to Profit Dips at Middle East & North Africa Hotels

Hotels in the Middle East & North Africa recorded a 34.8-percent year-on-year decrease in profit per room in September, as revenue levels slid and costs escalated, according to the latest data tracking full-service hotels from HotStats. September signalled yet another month of year-on-year profit decline for hotels in the region as the growth recorded in August’s positive month of performance was wiped away. At $37.82 for the month, GOPPAR was only just above the annual low of $35.80 recorded in June. The drop in profit was led by declines across all revenue centres, including Rooms (down 15.4 percent), Food & Beverage (down 10.7 percent), Conference & Banqueting (down…