Friday, March 10, 2017

Abu Dhabi hotels show good results in February

Abu Dhabi's hotels experienced significant growth driven by rate increases during February this year, according preliminary data from STR, a data and analytics specialist.

The average daily rate as well as the revenue per available room increased during the month, the report said.

Based on daily data from February, Abu Dhabi reported the following in year-over-year comparisons:
• Supply: +1.5 per cent
• Demand: +1.7 per cent
• Occupancy: +0.1% to 76.5 per cent
• Average daily rate (ADR): +17.9 per cent to Dh577.21
• Revenue per available room (RevPAR): +18.1 per cent to Dh441.63

STR analysts attribute the strong demand and ADR spike to IBTM Arabia (held from February 6 to 8) and the International Defence Exhibition and Conference (February 19 to 23). The ADR percentage change was the highest in Abu Dhabi for any month since February 2015.

STR will release actual February 2017 results later this month.

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights.  - TradeArabia News Service

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