STR’s preliminary March 2018 data for Dubai, United Arab Emirates, indicates strong growth in both supply and demand.
Based on daily data from March, Dubai reported the following in year-over-year comparisons:
- Supply: +5.4%
- Demand: +4.7%
- Occupancy: -0.6% to 85.7%
- Average daily rate (ADR): +0.5% to AED752.49
- Revenue per available room (RevPAR): -0.1% to AED644.97
The increase in ADR would be the first for the market since April 2017 and only the second overall since July 2014. STR analysts note the rise in ADR could be due to the shift in Saudi school holidays, which occurred 10-20 March 2018. Overall performance remains consistent as demand (room nights sold) grows, but not as fast as supply.
STR will release full March results later this month. The January edition of STR’s Market Forecast and the 2017 Global Hotel Study are now available.
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