Monday, February 13, 2017

Abu Dhabi hotels see occupancy, rates decline in Jan

Abu Dhabi's hospitality sector reported sharp declines across key performance metrics in January 2017, with the steepest fall recorded in revenue per available room (RevPAR), which fell 11.2 per cent to Dh345.68 ($94) year-on-year, said a report.

According to a preliminary report released by STR, a hotel data benchmarking company, average daily rate (ADR) dropped 10.0 per cent to Dh465.80 ($126.7) and occupancy levels slipped 1.4 per cent to 74.2 per cent.

STR analysts note that Abu Dhabi’s ADR levels were once again pressured by supply growth in the market. However, the market’s hotels did record a significant uptick in RevPAR (up 23.6 per cent) on the last day of the month, mainly due to the Global Space Congress (January 31 - February 1). Occupancy around the event reached 90.2 per cent on January 30 and 89.8 per cent on January 31.

Additionally, the report also noted that supply and demand in the UAE capital continued to grow in January, going up 3.9 per cent and 2.4 per cent respectively. - TradeArabia News Service

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