Thursday, August 10, 2017

Dubai hotels see occupancy, rates decline in July

Dubai's hospitality sector reported declines across key performance metrics in July with the steepest fall recorded in revenue per available room (RevPAR), which fell 14.7 per cent to Dh309.76 ($84.3) year-on-year, said a report.

Average daily rate (ADR) dropped 11.5 per cent to Dh471.25 ($128.2) and occupancy levels slipped 3.6 per cent to 65.7 per cent, said a preliminary report released by STR, a hotel data benchmarking company.

Dubai’s hotel performance continues to be affected by supply expansion, it said.

STR analysts note that July performance was affected by the Ramadan calendar shift, with the Eid al-Fitr holiday in late June this year versus early July last year. However, Dubai did not experience as severe a downturn as several other Middle Eastern markets during this year’s Ramadan period.

Additionally, the report also noted that supply and demand in Dubai continued to grow in July, going up 5.6 per cent and 1.8 per cent respectively. - TradeArabia News Service

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