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.
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