STR releases preliminary September 2016 data for Abu Dhabi
LONDON -- STR's preliminary September 2016 data for Abu Dhabi, United Arab Emirates, indicates overall performance declines.
Based on daily data from September, Abu Dhabi reported the following in year-over-year comparisons:
- an increase in supply (+3.9%) and a decrease in demand (-3.0%);
- a 6.7% decrease in occupancy to 68.9%;
- a 6.4% decrease in average daily rate (ADR) to AED400.50; and
- a 12.6% decrease in revenue per available room (RevPAR) to AED275.80.
The absolute ADR level would be the lowest for a September in Abu Dhabi since 2005. At the same time, ADR in the market increased from last month (AED348.61 in August).
STR analysts attribute the market's overall performance declines to supply growth substantially outpacing demand.
STR will release actual September 2016 results later this month.
Media & Communications Coordinator - STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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. For more information, please visit str.com.