Addis Ababa, Africa’s political capital, posted Africa’s highest average daily rate (ADR), according to the most recent year data from STR.
According to STR, a company provides premium data benchmarking and marketplace insights for global hospitality sector, Addis Ababa registered an absolute average daily rate of US$163.79 when measured in constant currency from July 2018 through June 2019, which removes the effects of inflation.
Director of STR, Thomas Emanuel stated that Addis Ababa continues to maintain high average daily rate levels when compared internationally. The next closest STR defined markets in Africa were Accra Area, Ghana (US$160.34) and Lagos Area, Nigeria (US$132.51).
The director said, “The city has multiple demand drivers, such as a growing economy, successful airline and its status as the diplomatic capital for Africa.”
“Air connections and ease of access compared with other cities also other factor for strong demand, which provides hoteliers with the confidence to maintain rate levels,” the director added.
Managing Director of Bench Events, Matthew Weihs said on his part hosting high-profile international meetings like Africa Hotel Investment Forum (AHIF) is one factor that has helped Addis Ababa to maintain its position as the city with the most expensive hotel accommodation in Africa.
Addis Ababa’s occupancy over the same 12-month time period was 58.4%, up 6.5% year over year. Cairo & Giza was the continent’s occupancy leader at 74.5%. Cape Town Centre, South Africa (65.0%), ranked second in the metric followed by Accra Area (59.7%).
Founded in 1985, STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors.