STR Global’s preliminary January data for Dubai indicates positive revenue-per-available-room growth.
Based on preliminary STR Global daily data from January, the emirate reported:
* increases in supply (+5.9 percent) and demand (+5.5 percent);
* a 0.4-percent decline in occupancy to 87.5 percent;
* an 11.7-percent increase in average daily rate to AED1,177.74; and
* an 11.2-percent rise in RevPAR to AED1,031.10.
“The growth in demand for January was not able to absorb the additional supply coming into this market, resulting in a slight decline in occupancy”, said Elizabeth Winkle, managing director of STR Global. “ADR, meanwhile, achieved the highest levels of any January since 2008 and remains the main driver for the double-digit growth in RevPAR”.
STR Global will release January 2014 results in two weeks. The next edition of the STR Global Hotel Market Forecast will be available by the end of February.
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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