According to preliminary October data from STR, Dubai hotel occupancy fell 4.3% to 75.2%, ADR dropped 6.1% to 685.41 Emirati dirhams ($186.63) and RevPAR declined 10.2% to 515.64 dirhams ($140.41).
STR’s preliminary October 2018 data for Dubai, United Arab Emirates, indicates performance levels affected by continued supply growth.
Based on daily data from October, Dubai reported the following in year-over-year comparisons:
• Supply: +7.7%
• Demand: +3.1%
• Occupancy: -4.3% to 75.2%
• Average daily rate (ADR): -6.1% to AED685.41
• Revenue per available room (RevPAR): -10.2% to AED515.64
While a growth imbalance in supply and demand has led directly to lower occupancy levels, STR analysts attribute lower ADR in Dubai to hotels looking to drive market share through more attractive rates. Despite the negative year-over-year comparisons, occupancy was lifted during GITEX Technology Week (14-18 October).
STR will release full October results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.