Dubai's hotel market reported performance declines according to preliminary March data from STR. Occupancy fell 1.3% to 86.3%, ADR dropped 9.8% to 756.21 Emirati dirhams ($205.89) and RevPAR decreased 11% to 652.61 Emirati dirhams ($177.68).
LONDON—STR’s preliminary March 2017 data for Dubai, United Arab Emirates, indicates performance consistent with significant growth in both supply and demand.
Based on daily data from March, Dubai reported the following in year-over-year comparisons:
- Supply: +6.0%
- Demand: +4.6%
- Occupancy: -1.3% to 86.3%
- Average daily rate (ADR): -9.8% to AED756.21
- Revenue per available room (RevPAR): -11.0% to AED652.61
While ADR continues to be pressured by new supply entering the market, STR analysts note that occupancy reached a significant level for the month even with a slight year-over-year decrease. Demand was boosted by events like GFIA (Global Forum for Innovations in Agriculture, 20-21 March), ARABLAB The Expo 2017 (20-23 March) and DIHAD (Dubai International Humanitarian Aid & Development Conference & Exhibition, 21-23 March).
STR will release actual March 2017 results later this month. The February edition of STR’s Market Forecast is now available.
Media & Communications Coordinator
+44 (0)207 922 1979
Director of Marketing, Research & Analysis
+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 firstname.lastname@example.org.