Hoteliers in Manama saw total revenues slump by nearly 7% in March despite reducing payroll levels and overheads, according to new data.
HotStats figures showed that total revenue per available room (TRevPAR) fell by 6.6% despite successfully reducing cost levels in both payroll (-3.5%) and overheads (-5.3%), Arabian Business reported.
As a result, profit per room at hotels in the Bahrain capital fell by 6.9% year-on-year in March, to $77.70 from $83.50 during the same period in 2015.
Hotels in Manama have managed to recover volume since Q4 2015, with occupancy increasing slightly (1.2%) on a rolling 12-month basis, to 54.8%.
However, this has been at the expense of achieved average room rate, which has plummeted in the last six months, with the greatest margin of year-on-year decline recorded in October (-14.6 percent), February (-13.5 percent) and March (-9.7 percent).