Dubai records positive May hotel performance
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The recent announced STR Global’s preliminary May data for Dubai indicate positive revenue-per-available-room performance. As per the report, Dubai witnessed an increase in supply by 8.8% and subsequent demand by 6.1%. However, there was a 2.5% decline in occupancy to 78.1%.
Despite the decline, hotels recorded a 4.3% increase in average daily rate to AED809.88 and a 1.7% rise in RevPAR to AED632.23. The emirate is forecast to post a 3% RevPAR increase for 2014.
“Demand remained strong for Dubai. However, supply growth continued to pick up for the fifth month in a row, leading to a decline in occupancy performance for May. Continued ADR growth pushed the metric above 2008 levels. Further rate growth is expected to drive positive RevPAR performance throughout 2014,” said Elizabeth Winkle, managing director of STR Global
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