Hotels in Abu Dhabi recorded low room rates in February as demand slowed due to an off year for a key biennial exhibition, which will be held once again in 2019, according to new data.
Figures released by STR revealed that revenue per available room (RevPAR) and average daily rate (ADR) dropped heavily in the second month of the year - down 19.4 per cent to Dh349.20 ($95) and 23.3 per cent to Dh431.34 ($117.4) respectively. Occupancy rates, however, climbed 5.1 per cent to 81.0 per cent.
Demand rose by 2.0 per cent in February while supply remained flat, figures showed.
STR analysts noted that the absolute occupancy level would be the highest for a February in Abu Dhabi since 2009. Furthermore, the decline in ADR came as a result of an off year for the biennial International Defence Exhibition & Conference (IDEX), which will be held once again in 2019. - TradeArabia News Service