Page 86 - Valor Hospitality Partners - Casa Anfa Project
P. 86
MARKET KNOWLEDGE – CASABLANCA
• STR: Q2 2019: Casablanca hotel performance down due to supply influx.
• Travel Daily News: There is significant performance variance across Morocco, but Casablanca continues to pull down overall
figures for the country.
• Hotel Management: [For Q2 2019] In Casablanca, Morocco, occupancy dropped 7.6 percent to 58.8 percent while ADR declined
6.4 percent to MAD989.65 and RevPAR fell a worrisome 13.5 percent to MAD582.15. The absolute ADR and RevPAR levels were
the lowest for a Q2 in STR’s Casablanca database, and the company's analysts noted this is the first Q2 in Casablanca that
showed a double-digit increase in supply (up 15 percent), which seems to have negatively affected performance levels. When
looking at individual months, May showed the market’s weakest performance across the three key performance metrics: occupancy
was down 27.8 percent, ADR dropped 12.3 percent and RevPAR fell 36.7 percent.
• https://hvi.hvs.com/market/africa/Morocco_-_Casablanca:
• 2019 suffered from a drop in MICE and corporate activity and the timing of the month of Ramadan which was in a typically strong
period for tourism. ONOMO Casablanca City Center announced the opening in March 2019.
• After three years of strong performance, Casablanca showed a drop in both occupancy and rates in 2019. This was mainly due to a
drop in corporate activity and a 20% increase in supply. 2020 and 2021 have a better outlook in terms of performance and
values.
