STR: Preliminary April data for Abu Dhabi hotels
LONDON -- STR's preliminary April 2018 data for Abu Dhabi, United Arab Emirates, indicates higher occupancy levels and lower room rates.
Based on daily data from April, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +4.1%
- Demand: +6.9%
- Occupancy: +2.7% to 80.0%
- Average daily rate (ADR): -3.3% to AED432.12
- Revenue per available room (RevPAR): -0.7% to AED345.88
STR analysts note that despite an absence of high-impact market events, this is the second consecutive April with occupancy growth in Abu Dhabi. In fact, the absolute occupancy level would be the highest for an April in the market since 2008.
ADR decreases have been common in the market with supply growth a factor in that trend.
STR will release full April results later this month. The May edition of STR's Market Forecast will be available at the end of the 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.