STR Global’s preliminary November data for Dubai indicates positive growth.
Based on STR Global daily data from November, preliminary data for the emirate includes:
• increases in supply (+6.9 percent) and demand (+8.8 percent);
• a +1.7-percent increase in occupancy to 87.5 percent;
• a +9.8-percent increase in average daily rate to AED1,105.38;
• a +11.5-percent rise in revenue per available room to AED967.68; and
• RevPAR is expected to grow by +3.5 percent in 2014.
“Although occupancy achieved the highest levels in November since 2007, ADR remains the dominating force in driving double-digit RevPAR growth for Dubai in this month”, said Elizabeth Winkle, managing director of STR Global. “Similar patterns are expected for 2014; however, supply growth is expected to dilute occupancy rates, leaving ADR to drive RevPAR growth”.
STR Global will release November 2013 results in two weeks. The November 2013 edition of the STR Global Hotel Market Forecast is available now.
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.
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