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UAE Hotels Post Best February Occupancy Levels For 9 Years

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Hotels in the UAE recorded their highest February occupancy levels for nine years last month, according to new figures. Data released by industry analysts STR showed that occupancy rose by 6 percent in February to 84 percent compared to the same month last year. STR said the occupancy level was the highest for a February in the UAE since 2008.   The figures also showed that average daily rates (ADR), which have seen months of declines in Dubai and Abu Dhabi, rebounded by 1.4 percent last month to an average of AED714.04. Revenue per available room, also known as RevPAR, also rose in February to an average of nearly AED600, representing an uplift of 7.5 percent. STR said hotel performance was boosted by major events in February, including the International Defence Exhibition and Conference in Abu Dhabi and the Gulfood conference in Dubai. Regionally, the Middle East reported mixed results in the three key performance metrics. Occupancy rose 3.2 percent to 71.7 percent while ADR fell by 1.8 percent and RevPAR increased by 1.3 percent. Source: ArabianBusiness
Posted by MODUL University Dubai on 27 Mar 2017

Topic: Industry News

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