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Dubai – Mubasher: US-based hotel market data company STR Inc said that hotel supply in Dubai increased by 9.3% in January while demand rose by 3.9%.
The growing hotel supply in the emirate ahead of the Expo 2020 mega event was impacted by occupancy and room rates last month, according to STR’s preliminary January data for Dubai.
The American company noted that the performance was affected by a continued influx of new room inventory. Last month, Dubai reported declines in hotel occupancy, average daily rates (ADR) and revenue per available room (RevPAR).
Occupancy in Dubai’s hotels decreased by 4.9% to 82.2% despite rates eclipsing 90% for each of the first three nights of 2019, according to STR figures.
Meanwhile, ADR fell by 11.4% year-on-year to AED 714.01 in January, while RevPAR dropped by 15.8% to AED 586.79, STR added.
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