STR: Preliminary September data for Dubai hotels
STR’s preliminary September 2017 data for Dubai, United Arab Emirates, indicates performance declines consistent with significant supply growth.
Based on daily data from September, Dubai reported the following in year-over-year comparisons:
Supply: +5.6 percent
Demand: +0.6 percent
Occupancy: -4.7 percent to 76.6 percent
Average daily rate (ADR): -10.6 percent to AED497.67
Revenue per available room (RevPAR): -14.8 percent to AED381.20
In addition to supply growth, STR analysts note that a decline in events in the market compared with September 2016 might have weighed on Dubai’s performance for the month. For example last year, Dubai hosted the biennial International Congress of the International Society of Blood Transfusion.
Additionally, residents experienced a shorter vacation period this year, as the Eid Al Adha holiday shifted from 11-18 September in 2016 to 31 August to 3 September in 2017.
STR will release full September 2017 results later this month.