Hotels in Dubai, UAE saw an occupancy rate of 86.4 per cent during January, rising 1.5 per cent year-on-year, according to preliminary data for the month from STR, a global provider of analytics and marketplace insights.
Both supply and demand increased 3.6 per cent and 5.5 per cent respectively during the month.
While Average daily rate (ADR) fell 0.6 per cent to Dh814.51 ($221.7), Revenue per available room (RevPAR) improved 1.0 per cent to Dh703.89 ($191.5).
High demand was enough to outpace somewhat slowing supply growth and push a positive occupancy comparison. As a result, Dubai saw its first January increase in RevPAR since 2014.STR analysts note the year-over-year change in supply would be the lowest for any month since November 2012.
Additionally, demand was aided by a fast-rebounding Russia source market, especially in beachfront properties. – TradeArabia News Service
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