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Abu Dhabi hotels see occupancy, rates decline in November

ABU DHABI, December 12, 2016

Abu Dhabi's hospitality sector reported declines across key performance metrics in November, with the steepest fall recorded in revenue per available room (RevPAR), which fell 13.8 per cent to Dh534.97 ($145.6) year on year, said a report.

Average daily rate (ADR) dropped 11.1 per cent to Dh660.14 ($179.6) and occupancy levels slipped 3.1 per cent to 81.0 per cent, said a preliminary report released by STR, a hotel data benchmarking company.

According to the report, the absolute ADR level would be the highest in Abu Dhabi since last November. Market performance for the month was helped by the Formula 1 Abu Dhabi Grand Prix (November 25-27), with four straight days of ADR above Dh1,000 ($272) and year-over-year increases of 101.5 per cent and 143.7 per cent, respectively, on November 24 and 25.

STR analysts also note that supply growth slowed a bit compared with the +3.6 per cent average in the market during the first 10 months of 2016.

Additionally, the report also noted that supply in Abu Dhabi continued to grow in November 2016, going up 2.7 per cent, while demand remained flat (down 0.4 per cent). - TradeArabia News Service




Tags: hotel | RevPAR | Occupancy | ADR | Abu | Dhabi |

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