Occupancy rates of Dubai hotels fell 4.6% to 50.3% in July

: Wednesday, September 03 - 2014 @ 12:48

HotStats survey showed that occupancy rates of Dubai hotels fell 4.6% to 50.3% year-on-year in July as overall demand in the emirate fell due to the hot weather and the impact of Ramadan, Gulf News reported. While occupancy levels were down, average room rates (ARR) rose slightly by 1.1% during the month to $202.94. As a result, revenue per available room (RevPAR- a performance benchmark) fell 7.4 % to $102.13. Food and beverage revenue also fell, which resulted in gross operating profit per available room (GOPPAR) to plummet 99.5% to $0.07. “Although performance was down in July, the overall market remains strong with year to date occupancy levels averaging 79.4% and profit margins at 46.4 per cent,” stated Peter Goddard, Managing Director of TRI Consulting in Dubai.

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Wednesday, September 3- 2014 @ 12:48 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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