STR Global’s preliminary February data for Dubai indicates positive revenue-per-available-room growth.
Based on preliminary daily data, the emirate reported:
* increases in supply (+6.3 percent) and demand (+7.1 percent);
* a 0.7-percent increase in occupancy to 88.6 percent;
* a 10.7-percent increase in average daily rate to AED1,102.78;
* an 11.5-percent rise in RevPAR to AED977.12; and
* a 3.8% increase in RevPAR is expected in 2014.
“Growth in demand was able to outpace the continuous growth in supply, resulting in the highest occupancy levels of any February since 2007 for the market”, said Elizabeth Winkle, managing director of STR Global. “ADR, however, was driving double-digit RevPAR growth in this month, and rate is expected to heavily influence positive hotel performance for the remainder of the year”.
STR Global will release actual February 2014 results in two weeks. The February 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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