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04 March 2024

Dubai hotel RevPar rises first time in 6 months

In 2014, ICD completed the acquisition of Atlantis, The Palm, and purchased a significant equity interest in Kerzner International Holdings Limited. (File)

By Staff

Dubai hotels recorded a marginal increase in revenue per available room (RevPar) during December 2014, following six consecutive months of decline.

According to STR Global’s preliminary figures released on Tuesday, RevPar increased 0.3 per cent to Dh812.30 in the last month of 2014.

The hospitality sector in the emirate also saw average daily rates rising despite a decent increase in room supply.

Average daily rate saw a 1.7 per cent increase to Dh1,024.23; while supply increased 6.9 per cent, faster than 5.3 per cent demand during the month.

“Dubai reported positive RevPAR performance for December, after six consecutive months of declines in this measure”, said Elizabeth Winkle, managing director of STR Global.

“Despite the continuous strong supply growth, ADR managed to increase in one of the busier months for the market, achieving the highest levels of any December since 2008,” she said.

Occupancy level declined 1.4 per cent to 79.3 per cent.