Ernst & Young (EY) published its “Middle East Hotel Benchmark Survey Report” on the performance of 4 and 5 star hotels in the Middle East region, conveying a 14.5 percentage-point annual decrease in the average occupancy rate in Beirut’s hospitality sector to 38.2% during the month of March 2023.

The value of LBP-denominated cleared checks soared by 63.88% y-o-y to LBP 17,963 billion in the first four months of 2023, in comparison with LBP 10,961 billion during the same period last year.