Hotels in Addis Ababa charged an average daily rate of $163.79 between July 2018 and June 2019, the highest of any African market tracked by the hospitality data firm STR, the company said.
The Sheraton Addis hotel in Addis Ababa, photographed on October 21, 2007. (A. Davey / Wikimedia Commons, CC BY 2.0) [file photo]
The figure, measured in constant currency to remove the effects of inflation, was 1.1 percent higher than a year earlier, STR said. The next most expensive markets in Africa were the Accra area in Ghana at $160.34 and the Lagos area in Nigeria at $132.51.
Average daily rate is calculated by dividing room revenue by the number of rooms sold, according to STR's glossary.
STR, formerly known as Smith Travel Research, released the data ahead of the Africa Hotel Investment Forum, which Addis Ababa hosted at the Sheraton Addis on Sept. 23–25, 2019, Southern & East African Tourism Update reported.
Sources: Hotel News Resource (STR), APO Group Africa Newsroom, Southern & East African Tourism Update, Hotelier Middle East, STR glossary