Hospitality numbers dip for Abu Dhabi: STR Global
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The recent report released by STR Global for February 2016 state that the emirate indicates performance decreases driven by an off year for the biennial International Defence Exhibition and Conference.
Based on daily data, Abu Dhabi reported a year-over-year comparisons with an increase in supply of 4.0% and a decrease in demand of -1.7%. There was also a 5.5% decrease in occupancy to 76.3% and a 28.5% decrease in average daily rate (ADR) to AED493.02. There was also a 32.5% decrease in revenue per available room (RevPAR) to AED376.17.
Abu Dhabi’s February performance reflects impact of events and conferences on the market’s hotels. In February 2015, IDEX boosted RevPAR 29.9%. For the first day of the conference last year, RevPAR was up 162.0% due to a 125.8% increase in ADR.
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