Abu Dhabi hotels' ADR and RevPAR boosted in February 2019
Occupancy dips slightly, but Abu Dhabi's hotels showed a significant increase in daily rates in February 2019
While occupancy may have dipped slightly for Abu Dhabi hotels in February 2019, STR's preliminary data reveals that the UAE capital showed increases in ADR and RevPAR - mainly driven around the Pope's visit to the UAE capital and the International Defence Exhibition & Conference.
According to preliminary February 2019 data from STR, Abu Dhabi hotels reported occupancy dipped 1.9% to 79.2%, but a 31.6% ADR boost to AED 565.07 (US $153.87) drove RevPAR up 29.1% to AED 447.46 ($121.84).
Based on daily data from February, Abu Dhabi reported an increase in supply (9.3%) along with a rise in demand (7.2%) year-on-year.
STR analysts noted that the year-over-year increases in ADR and RevPAR were mainly driven by Pope Francis’ visit to Abu Dhabi (February 3-5) and the 2019 International Defence Exhibition & Conference (February 17-21). A jump in rates were seen during the seven-day period surrounding IDEX.
STR will release full February results later this month.
This follows the news that the UAE capital reported its highest January occupancy since 2008.