Dubai: Hotel occupancy hit 15-year high in March, thanks to Expo 2020

Dubai: Hotel occupancy hit 15-year high in March, thanks to Expo 2020

The mega event expedited the recovery of the local economy after the Covid-19 pandemic

Published: Tue 12 Apr 2022, 11:12 AM

Hotel occupancy in Dubai reached a 15-year high last month on the back of Expo 2020.

Dubai’s hotel industry reported 90 per cent or better occupancy in any given month for the first time since 2007 in March, driven by the final weeks of Expo 2020, which concluded on March 31.

Expo 2020 Dubai recorded over 24 million visits during the six-month-long event and welcomed 192 countries. The mega event expedited the recovery of the local economy after the Covid-19 pandemic. In addition to the hospitality sector, retail, tourism, aviation, and many other industries benefited from the Expo.

A recent report commissioned by the Dubai Chamber of Commerce found that 76.5 per cent of companies in Dubai said Expo 2020 Dubai boosted business growth, while 73.5 per cent entered into new partnerships.

According to STR, occupancy level reached 91.7 per cent in March while average daily rates hit Dh891.46 and revenue per available room (RevPAR) at Dh817.9.

“Like past renditions of Expo in Shanghai (2010) and Milan (2015), the end of the ‘mega event’ proved to be the busiest for Dubai. The last time monthly occupancy