STR: Preliminary February Data For Abu Dhabi Hotels
LONDON — STR's preliminary February 2019 data for Abu Dhabi, United Arab Emirates, indicates lower occupancy but significantly higher room rates.
Based on daily data from February, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +9.3%
- Demand: +7.2%
- Occupancy: -1.9% to 79.2%
- Average daily rate (ADR): +31.6% to AED565.07
- Revenue per available room (RevPAR): +29.1% to AED447.46
STR analysts note the year-over-year increases in ADR and RevPAR were mainly driven by Pope Francis' visit to Abu Dhabi (3-5 February) and the 2019 International Defence Exhibition & Conference (17-21 February). A jump in rates were seen during the seven-day period surrounding IDEX.
STR will release full February results later this month.
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