Lead Text: 
Preliminary data shows declines across all performance indicators, including ADR and RevPAR

STR Global’s preliminary results for January 2015 for Dubai indicate declines in occupancy, ADR and RevPAR.

Supply increased by 6.8% but demand only grew by 3.7%, creating an imbalance for hotels in the emirate.

A 2.9% decrease in occupancy to 85.6% was reported, while average daily rate went down by 3.6% to AED1070.89 ($291.55).

Revenue per available room performance also showed a decline by 6.4% to AED916.17 (US $249.42).

“Dubai reported declines in RevPAR performance for the month, off the back of double-digit growth in January 2014”, said Elizabeth Winkle, managing director of STR Global.

“Although strong supply growth continued to outpace growth in demand, occupancy levels for January remained in excess of 85% for the fourth year in a row”.

STR Global will release January 2015 results in two weeks, with the February edition of the STR Global Hotel Market Forecast available at the end of this month.

In December, hotels in Dubai had experienced an uplift in revenue per available room (RevPAR) for the first time in six months.

Article Context: 
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Published Date: 
Thursday, February 12, 2015 - 09:32
Parent Source id: 
0
Modified Date: 
Thursday, February 12, 2015 - 14:24
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