DUBAI EXPERIENCES FIRST JANUARY GROWTH IN REVPAR SINCE 2014
Dubai has experienced its first January growth in REVPAR since 2014 according to figures released by industry analysts STR.
High demand was enough to outpace somewhat slowing supply growth and push a positive occupancy comparison,” said a spokesperson.
“As a result, Dubai saw its first January increase in REVPAR since 2014. STR analysts note the year-over-year change in supply would be the lowest for any month since November 2012. ”
Additionally, demand was aided by a fast-rebounding Russia source market, especially in beachfront properties.
Based on daily data from January, Dubai reported the following in year-over-year comparisons:
• Supply: +3.6%
• Demand: +5.5%
• Occupancy: +1.5% to 86.4%
• Average daily rate (ADR): -0.6% to AED814.51
• Revenue per available room (REVPAR): +1.0% to AED703.89