STR Global’s preliminary May data for Dubai indicate positive revenue-per-available-room performance.
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 Dhs809.88; and
• a 1.7-percent rise in RevPAR to Dhs632.23.
The emirate is forecast to post a 3.0-percent RevPAR increase for 2014.
“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″.
STR Global will release May 2014 results in two weeks. The May edition of the STR Global Hotel Market Forecast is now available.
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