STR Global's preliminary August data indicates good growth in all three performance measures for the emirate.
Based on STR Global daily data from August, preliminary data for Dubai includes:
increases in supply (5.81 percent) and demand (30.4 percent);a 23.3-percent jump in occupancy to 72.6 percent;a 8.7-percent increase in average daily rate to AED753.16; anda 34.0-percent rise in revenue per available room to AED546.61.
"Dubai's hotel performance in August 2013 witnessed a jump compared to last year, which was mainly due to Ramadan that shifted business to the month of August", said Elizabeth Winkle, managing director of STR Global. "The sharp rise in demand offset the continuing growth of new supply".
"STR Global's latest forecast reports anticipate an 11-percent RevPAR growth for year-end 2013 after strong years in 2011 and 2012", said Naureen Ahmed, manager, marketing and analysis at STR Global. "Dubai could benefit substantially from the Arab Spring, preserving its reputation as a safe destination to visit. Dubai has seen occupancy rates above 80 percent for the first five months of the year and demand will continue to outpace the growth of supply, solidifying its place as a desirable destination".
STR Global will release final month-end August 2013 results in two weeks. Revised 2013 forecasts will be available in November.
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.
Logos, product and company names mentioned are the property of their respective owners.