Monday, September 11, 2017

Abu Dhabi hotels see occupancy, rates decline in August

Hotels in Abu Dhabi reported performance declines across key  performance metrics in August, with the steepest fall recorded in revenue per available room (RevPAR), which fell 11.7 per cent to Dh206.95 ($56.3) year on year, said a report.

Average daily rate (ADR) dropped 8.5 per cent to Dh317.94 ($86.5) and occupancy levels slipped 3.4 per cent to 65.1 per cent, said a preliminary report released by STR, a hotel data benchmarking company.

The report also noted that supply in Abu Dhabi continued to grow in August, going up 3.7 per cent, while demand was up 0.2 per cent.

STR analysts point out that the number of roomnights sold (demand) in the market increased slightly from last August. However, supply growth outpacing demand is placing pressure on occupancy, and subsequently, ADR levels. - TradeArabia News Service

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