Dubai hotels witness a decline in August 2015: STR Global
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Recent reports posted by STR Global in its preliminary August 2015 data for Dubai showed that there was a year-over-year decrease in several key performance metrics.
The emirate witnessed an increase in supply by six percent and demand by 4.3%. However, there was a decrease of 1.7% in occupancy to 74.2%, followed by a decrease of 12.5% in average daily rate to AED587.50 and finally, a 13.9% decrease in revenue per available room to AED435.66.
When looking over a year moving average through July, supply growth in Dubai outpaced demand by 7.4% to 5.7%. Oxford Economics also projects number of UAE arrivals in Southern and Eastern Europe to grow by eight percent for the year 2015.
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