STR: Preliminary June data for Abu Dhabi hotels
Based on daily data from June, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +4.2%
- Demand: +10.9%
- Occupancy: +6.4% to 53.8%
- Average daily rate (ADR): -4.5% to AED318.12
- Revenue per available room (RevPAR): +1.6% to AED171.31
The year-over-year demand increase, which was boosted by an earlier Eid al-Fitr, would be the highest for a June since 2014. STR analysts note that the decrease in ADR is consistent with significant supply growth as hoteliers charge less for rooms in an effort to maintain occupancy levels.
Absolute RevPAR levels in Abu Dhabi have remained well below historical averages primarily due to lower ADR.
STR will release full June results later this month. The May edition of STR's Market Forecast is available now for Abu Dhabi and a host of other markets across the globe.
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