STR: Preliminary August data for Abu Dhabi hotels
LONDON -- STR's preliminary August 2017 data for Abu Dhabi, United Arab Emirates, indicates performance declines consistent with significant supply growth.
Based on daily data from August, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +3.7%
- Demand: +0.2%
- Occupancy: -3.4% to 65.1%
- Average daily rate (ADR): -8.5% to AED317.94
- Revenue per available room (RevPAR): -11.7% to AED206.95
STR analysts point out that the number of roomnights sold (demand) in the market increased slightly from last August. However, supply growth outpacing demand is placing pressure on occupancy, and subsequently, ADR levels.
STR will release full August 2017 results later this month.
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.