STR: Dubai hotel rates reached six-year high in December
LONDON - Lifted by Expo 2020 and the holiday season, Dubai’s hotel industry reported its highest monthly room rates since 2015, according to preliminary December 2021 data from STR.
- Occupancy: 78.2%
- Average daily rate (ADR): AED956.01
- Revenue per available room (RevPAR): AED747.28
The market’s absolute ADR and RevPAR levels were its highest for any month since January 2015 and March 2015, respectively.
On 31 December, the market’s ADR (AED1,963.67) was the highest for any one day in STR’s Dubai database, while the market’s RevPAR (AED1,743.89) was the highest since 31 December 2015 (AED1,768.85).
All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.