Dubai hotel RevPar rises first time in 6 months
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.
Follow Emirates 24|7 on Google News.