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Dubai Hotel Occupancy Dips in May

Dubai Hotel Occupancy Dips in May

Vacation News » Middle East and Africa Vacation News Edition | By WPJ Staff | June 10, 2014 9:29 AM ET



According to STR Global's preliminary May 2014 data for the Dubai hotel industry, the market enjoyed positive revenue-per-available-room performance.
 
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Elizabeth Winkle

"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.
 

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