The WPJ
Vacation Real Estate News
Dubai Hotel Occupancy Dips in May
According to STR Global's preliminary May 2014 data for the Dubai hotel industry, the market enjoyed positive revenue-per-available-room performance.
"Demand remained strong for Dubai. However, supply growth continued to pick up for the fifth month in a row, leading to a decline in occupancy performance for May", said Elizabeth Winkle, managing director of STR Global. "Continued ADR growth pushed the metric above 2008 levels. Further rate growth is expected to drive positive RevPAR performance throughout 2014".
Based on daily data from May, Dubai reported:
- Increases in supply (+8.8 percent) and demand (+6.1 percent);
- A 2.5-percent decline in occupancy to 78.1 percent;
- A 4.3-percent increase in average daily rate to AED809.88; and
- A 1.7-percent rise in RevPAR to AED632.23.
The emirate is forecast to post a 3.0-percent RevPAR increase for 2014.
Real Estate Listings Showcase
This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More