STR: Preliminary January Data For Dubai Hotels
LONDON - STR's preliminary January 2019 data for Dubai, United Arab Emirates, indicates performance affected by a continued influx of new room inventory.
Based on daily data from January, Dubai reported the following in year-over-year comparisons:
- Supply: +9.3%
- Demand: +3.9%
- Occupancy: -4.9% to 82.2%
- Average daily rate (ADR): -11.4% to AED714.01
- Revenue per available room (RevPAR): -15.8% to AED586.79
STR analysts note that year-over-year declines are to be expected with significant supply growth ahead of Expo 2020. Regardless, demand (room nights sold) grew for the fourth consecutive month, and occupancy eclipsed 90% for each of the first three nights of the year.
STR will release full January 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.
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