Dubai ho­tel sup­ply growth con­tin­ues to out­strip de­mand: STR

Travel Daily ME - - News -

STR’s

pre­lim­i­nary March 2017 data for Dubai re­veals ho­tel sup­ply growth con­tin­ues to out­strip de­mand. Sup­ply surged 6% year on year, su­per­sed­ing de­mand growth of 4.6%. Oc­cu­pan­cies dropped 1.3% year on year but re­mained at a healthy 86.3%.

How­ever, Av­er­age Daily Rate (ADR) slumped 9.8% to AED756.21 and Rev­enue per avail­able room (RevPAR) plum­meted 11% to AED652.61.

While ADR con­tin­ues to be pres­sured by new sup­ply en­ter­ing the mar­ket, STR an­a­lysts note that oc­cu­pancy reached a sig­nif­i­cant level for the month even with a slight year-over-year de­crease.

De­mand was boosted by events like GFIA (Global Fo­rum for In­no­va­tions in Agri­cul­ture, 2021 March), ARABLAB The Expo 2017 (20-23 March) and DIHAD (Dubai In­ter­na­tional Hu­man­i­tar­ian Aid & De­vel­op­ment Con­fer­ence & Ex­hi­bi­tion, 21-23 March).

STR will re­lease ac­tual March 2017 re­sults later this month. The Fe­bru­ary edi­tion of STR’s Mar­ket Fore­cast is now avail­able. Click here for full story

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