STR: Preliminary December data for Abu Dhabi hotels
STR’s preliminary December 2017 data for Abu Dhabi, United Arab Emirates, indicates significant performance growth.
Based on daily data from December, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +1.5 percent
- Demand: +9.6 percent
- Occupancy: +8.0 percent to 79.4 percent
- Average daily rate (ADR): +2.1 percent to AED496.70
- Revenue per available room (RevPAR): +10.2 percent to AED394.39
STR analysts attribute the month’s performance growth to the International Diabetes Federation Congress (4-8 December 2017), which helped push the market’s occupancy above 85 percent on four consecutive nights. The month’s absolute occupancy level would be the highest for any December on record since 2004.
STR will release full December and total-year 2017 results later this month. The January edition of STR’s market forecast will be available by the end of the month.