Hotels in Israel have shown encouraging growth in performance over the past year, according to a new report from HVS.
The report highlights the fact that the country’s hotels held up relatively well last year, with average occupancy rising from 69 percent in 2012 to 70 percent. HVS’ research shows that ADR in hotels across five key locations in Israel reached $190 in 2013, up from $178 in 2012, with the highest rates noted in Tel Aviv at $234 and in Eilat at $188.
RevPAR also increased in 2013, up from an average of $122 in 2012 to $133. Arrivals showed decent growth over the same period.
“It’s clear that many tourists will only start returning to the country once the most pressing issues in the region have been resolved and stability and security can once again be guaranteed,” says report co-author Russell Kett, chairman of HVS London. “However, once this happens the country will see international tourism improve fairly quickly with average rates, occupancies, and RevPAR improving significantly on the back of this.”
