Dubai hotels posted the highest December demand
increase since 2011.
Dubai hotels record strong demand growth
LONDON, 6 days ago
Dubai's hospitality sector recorded strong demand growth and lower rates consistent with significant supply during December 2016, according to STR's preliminary data for the month.
Based on daily data from December, Dubai reported the following in year-over-year comparisons: Supply: +5.7 per cent; demand: +9.1 per cent; occupancy: +3.2 per cent to 79.7 per cent; average daily rate (ADR): -8.4 per cent to Dh824.58; revenue per available room (RevPAR): -5.4 per cent to Dh657.37
This was Dubai’s highest December demand increase since 2011, the report said. The month closed with three consecutive nights of occupancy above 90 per cent, including a level of more than 95 per cent on New Year’s Eve.
Supply continues to grow in Dubai as the market prepares to host Expo 2020. STR analysts also note that while Dubai’s ADR decreased year over year, the metric is beginning to trend towards its usual Q1 levels, which are traditionally the highest of the year.
STR will release actual December 2016 results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. - TradeArabia News Service