The market’s hotel performance was helped by several events including Gulfood (19-23 February), the 2024 FIFA Beach Soccer World Cup (15-25 February), the 2024 Dubai Duty Free Tennis Championships (18 February-2 March), and Untold Dubai Festival (15-18 February).
Helped by COP28 and New Year’s Eve, Dubai’s hotel industry reported its highest monthly average daily rate (ADR) on record, according to preliminary December data from CoStar.
Dubai’s hotel industry has seen a noticeable jump in occupancy on the books as the market prepares to host the Dubai Airshow and COP28, according to CoStar’s Forward STAR data.
In addition to the high occupancy, ADR was Dubai’s highest for a September since 2017.
Dubai’s hotel industry saw its saw highest April 2023 occupancy levels during the Eid-al Fitr holiday period, according to preliminary data from STR.
As one of the world’s busiest transit hubs, Dubai now leverages its rich offering of attractions and activities to encourage transferring travellers to spend extended stays there. However, the city aims to establish itself as a complete tourist destination, and it appears on course to achieve that goal.
Dubai’s hotel occupancy came in lower than the pre-pandemic comparable, but average daily rate (ADR) once again pushed revenue per available room (RevPAR) far above 2019 levels, according to preliminary December 2022 data from STR.
While ADR and RevPAR fell month over month, the metrics exceeded the 2019 comparables. Occupancy came in slightly under the July 2019 level (64.7%).
Helped by strong international arrival numbers, as well as an earlier Ramadan, Dubai’s May GOPPAR reached US$115.37. That level was 776% of the pre-pandemic comparable. Just a month earlier during Ramadan, the market was at 79% of 2019 GOPPAR.
Dubai welcomed 3.97 million international overnight visitors between January and March 2022, up from 1.27 million visitors for the corresponding period last year, representing a massive 214 per cent YoY visitation growth.