STR: Preliminary December data for Dubai hotels
STR's preliminary December 2018 data for Dubai, United Arab Emirates, indicates performance consistent with significant growth in both supply and demand.
Based on daily data from December, Dubai reported the following in year-over-year comparisons:
- Supply: +8.6%
- Demand: +5.6%
- Occupancy: -2.7% to 79.2%
- Average daily rate (ADR): -4.3% to AED758.80
- Revenue per available room (RevPAR): -6.9% to AED600.98
STR analysts note that the story remains the same for Dubai. Demand (room nights sold) continues to grow, but an influx of new inventory is pressuring occupancy and ADR levels. When looking at individual days during the month, New Year's Eve was the strongest with occupancy reaching 97.1% (+1.9% year over year) and ADR at AED1,703.15 (-2.0%). The market closed the month with five consecutive nights of occupancy above 90%.
STR will release full December results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.