Dubai hotels surpassed 2019 profit level in October
Estimated Dubai gross operating profit per available room (GOPPAR) for October 2021 came in at 159% of the 2019 comparable, according to STR‘s latest monthly P&L data release.
LONDON - Estimated Dubai gross operating profit per available room (GOPPAR) for October 2021 came in at 159% of the 2019 comparable, according to STR‘s latest monthly P&L data release.
Building on its launch in the U.S., STR now features monthly P&L data reporting in four world regions: Europe, the Middle East, Asia Pacific, and the Americas.
Helped by the opening of Expo 2020 and the ICC Men’s T20 World Cup 2021, Dubai’s GOPPAR reached US$178, while total revenue per available room (TrevPAR) was US$316. Dubai’s top-line performance was also lifted during the month, as the market reported its highest monthly room rates since 2018. The other two key markets in the Middle East and Africa region, Saudi Arabia and Qatar, did not reach 2019 GOPPAR levels, but still realized strong profits. Saudi Arabia’s October GOPPAR (US$42) came in at 80% of October 2019 levels, while Qatar (US$49) was at 79% using the same time comparison.
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