Hotel industry in Dubai reported its highest monthly room rates since 2015, lifted by Expo 2020 and the holiday season, according to preliminary December 2021 data from STR.
The average daily rate (ADR) and revenue per available room (RevPAR) levels were the highest for any month since January 2015 and March 2015, respectively.
In December, the occupancy level at Dubai hotels reached 78.2 per cent, while the average daily rate stood at Dh956 and RevPAR at Dh747.28, STR said.
On December 31, the market’s ADR reached Dh1,963.67, which was the highest for any one day in STR’s Dubai database. While the market’s RevPAR reached Dh1,743.89 – the highest since December 31, 2015.
Hotels across the emirate had reached nearly 90 per cent occupancy and around 100 per cent in Downtown and Burj Khalifa areas on New Year eve. The occupancy level peaked on New Year night in the Downtown and Burj Khalifa areas which is the biggest attraction for the magnificent NYE firework.
News Source: Khaleej Times