RevPAR Decline for Dubai Hotels Continues in November
STR’s preliminary November 2017 data for Dubai, United Arab Emirates, indicates significant growth in supply and demand.
Based on daily data from November, Dubai reported the following in year-over-year comparisons:
- Supply: +5.6%
- Demand: +2.7%
- Occupancy: -2.7% to 87.0%
- Average daily rate (ADR): -1.1% to AED754.11
- Revenue per available room (RevPAR): -3.8% to AED655.84
Demand (roomnights sold) reached an all-time high for a November in Dubai, and occupancy was well above the November average (83.6%). Occupancy also eclipsed 90% four consecutive nights around the Dubai Airshow, which was held 12-16 November. STR analysts cite supply growth as the reason behind the year-over-year decreases in occupancy and ADR.
STR will release full November 2017 results later this month. The November edition of STR’s Dubai Market Forecast is now available.
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