Wednesday, December 13, 2017

Dubai hotels see occupancy, rates decline in November

Dubai hotels reported declines in occupancy and revenues in November although growth in demand remained healthy during the month, according to STR Global.

STR Global’s preliminary November data for Dubai indicated increases in supply (5.6 per cent) and demand (2.7 percent). However, the figures also showed a 2.7 percent de crease in occupancy to 87 percent while average daily rates fell by 1.1 per cent to Dh754.11 ($205.2).

Revenue per available room (RevPAR) slipped 3.8 per cent to Dh655.84 ($178.5).

Demand (roomnights sold) reached an all-time high for a November in Dubai, and occupancy was well above the November average (83.6 per cent). Occupancy also eclipsed 90 per cent four consecutive nights around the Dubai Airshow, which was held from November 12-16.

STR analysts cite supply growth as the reason behind the year-over-year decreases in occupancy and ADR. - TradeArabia News Service

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