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Apr, 10 2018

Dubai Noticed Increase in Hotel rates this March

STR’s March 2018 data for Dubai indicated  growth in both supply and demand.

Dubai Noticed Increase in Hotel rates this March

According to new figures released by analysts STR, Dubai hotels intend to see a small increase in average daily rates (ADR) for March.

STR’s March 2018 data for Dubai indicated  growth in both supply and demand.

Daily data from March indicated a 5.4 percent rise in supply against a 4.7 percent increase in demand in Dubai.

STR figures showed while revenue per available room (RevPAR) fell marginally by 0.1 percent to AED644.97. Occupancy rose by 0.6 percent to 85.7 percent and ADR increased by 0.5 percent to AED752.49

STR said the increase in ADR would be the first for the market since April 2017 and only the second overall since July 2014.

The rise in ADR could be due to the shift in Saudi school holidays, which occurred March 10-20.

They added Overall performance remains consistent as demand (room nights sold) grows, but not as fast as supply.

 

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