Dubai hotels witnessed significant growth in demand (room nights sold) in July, but performance levels remained low due to pressure from increased supply, a report said.
The absolute average daily rate (ADR) level would be the lowest for any month in the market since August 2004, said STR’s preliminary data for July said.
The data highlights for the month are:
• Supply: +6.3%
• Demand: +7.2%
• Occupancy: +0.9% to 66.0%
• Average daily rate (ADR): -9.7% to Dh423.63
• Revenue per available room (RevPAR): -8.8% to Dh279.81
STR, which will release full July results later this month, provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. – TradeArabia News Service