Sunday 26 May 2019

Abu Dhabi hotels see revenues rise in February

LONDON, March 13, 2019

Hotels in Abu Dhabi recorded an uptick in average daily rate (ADR) and revenue per available room (RevPAR) in February despite lower occupancy levels, market analysts revealed.

According to STR’s preliminary data for the month, ADR rose 31.6 per cent to Dh565.07 ($153.8) and RevPAR climbed 29.1 per cent to Dh447.46 ($121.8) while occupancy dipped 1.9 per cent to 79.2 per cent for the month.

Demand was up 7.2 per cent in February but supply surged 9.3 per cent for the month.

STR analysts note the year-over-year increases in ADR and RevPAR were mainly driven by Pope Francis’ visit to Abu Dhabi (February 3-5) and the 2019 International Defence Exhibition & Conference (February 17-21). A jump in rates were seen during the seven-day period surrounding IDEX. - TradeArabia News Service


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