Here’s how F1 Grand Prix helped boost ADR, RevPAR in Abu Dhabi
Average daily rate rose by 6.4%
Hotels in Abu Dhabi recorded a rise in average daily rate (ADR) and revenue per available room (RevPAR) in December 2019, data from STR revealed.
According to analysts this growth was “especially pronounced” due to the F1 Grand Prix, the last day of which was held on December 1, 2019.
While average daily rate rose by 6.4% to AED509.10, revenue per available room (RevPAR) rose by 5.8% to AED392.64 when compared to the same period last year.
However, demand dropped by 0.5%, while occupancy dropped by 0.6% to 77.1%.
STR analysts said: “Although supply remained flat year over year, the slight decline in demand pushed occupancy down for the month.”
They also noted that performance growth was especially pronounced at the beginning of the month, which coincided with the last day of the F1 Grand Prix (December 1, 2019), which produced heightened performance growth in occupancy (+20.9%), ADR (+203.1%) and RevPAR (+266.5%).