STR: Preliminary October 2016 data for Dubai
 
STR: Preliminary October 2016 data for Dubai
11 NOVEMBER 2016 8:41 AM

Preliminary October 2016 performance data from Dubai projects the market experienced a 2% occupancy decrease to 77.9%, a 10.3% ADR decrease to 767.58 Emirati dirham ($208.97) and a 12% RevPAR decrease to 598.09 Emirati dirham ($162.83).

LONDON—STR’s preliminary October 2016 data for Dubai, United Arab Emirates, indicates performance declines consistent with significant supply growth.

Based on daily data from October, Dubai reported the following in year-over-year comparisons:

  • increases in supply (+6.0%) and demand (+3.9%);
  • a 2.0% decrease in occupancy to 77.9%;
  • a 10.3% decrease in average daily rate (ADR) to AED767.58; and
  • a 12.0% decrease in revenue per available room (RevPAR) to AED598.09.

The absolute occupancy level would be the lowest for an October in Dubai since 2011. STR analysts note that demand from the annual Gulf Information Technology Exhibition (GITEX), held 16-20 October, was outweighed by continued supply growth in place for Expo 2020 Dubai.

STR will release actual October 2016 results later this month. The August edition of STR’s Market Forecast is now available.

International Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@strglobal.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@strglobal.com
+44 (0)207 922 1965

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.