STR: Preliminary February data for Abu Dhabi hotels
LONDON -- STR's preliminary February 2017 data for Abu Dhabi, United Arab Emirates, indicates significant growth driven by rate increases.
Based on daily data from February, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +1.5%
- Demand: +1.7%
- Occupancy: +0.1% to 76.5%
- Average daily rate (ADR): +17.9% to AED577.21
- Revenue per available room (RevPAR): +18.1% to AED441.63
STR analysts attribute the strong demand and ADR spike to IBTM Arabia (6-8 February) and the International Defence Exhibition and Conference (19-23 February). The ADR percentage change was the highest in Abu Dhabi for any month since February 2015.
STR will release actual February 2017 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.