Wednesday, October 11, 2017

Dubai hotels' occupancy, rates decline in September

Dubai's hospitality sector reported declines across key performance metrics in September with the steepest fall recorded in revenue per available room (RevPAR), which fell 14.8 per cent to Dh381.20 ($103.7), said a report.

Average daily rate (ADR) dropped 10.6 per cent to Dh497.67 ($135.4) and occupancy levels slipped 4.7 per cent to 76.6 per cent, said a preliminary report released by STR, a hotel data benchmarking company.

The performance declines were consistent with significant supply growth, the report indicated.

Supply and demand in Dubai continued to grow in September, going up 5.6 per cent and 0.6 per cent respectively.

In addition to supply growth, STR analysts note that a decline in events in the market compared with September 2016 might have weighed on Dubai’s performance for the month. For example last year, Dubai hosted the biennial International Congress of the International Society of Blood Transfusion.

Additionally, residents experienced a shorter vacation period this year, as the Eid Al Adha holiday shifted from September 11-18 in 2016 to August 31 to September 3 in 2017. - TradeArabia News Service



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