Hotel occupancy rates drop to 40 percent in Beirut. Slight increase in revenues and cuts in payroll, overheads

Average occupancy rates in Beirut hotels dropped to 40 percent last year, according to the Syndicate of Hotel Owners.

Prices per room since that date have dropped around 40 percent from 2009 – when occupancy peaked at 70 percent.

Pierre Achkar, Chairman of the Syndicate, said: "Hotels, especially four star and below, are registering losses."

According to UK-based hospitality intelligence agency Hotstats, hotels in Beirut slashed costs, and achieved a 0.3 percent increase i...

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