Dubai Hotels Register Highest Occupancy Level Since February

SourceAl Bawaba
SectorEconomy
CountryUnited Arab Emirates

Dubai’s hotel industry reported its highest occupancy level since February, according to preliminary September 2020 data from STR, a leading provider of market data on the hotel industry worldwide. Year-over-year declines in the key performance metrics remained significant, STR said in its report. Occupancy levels increased to 45.4% in September 2020 as against a decline of 37.6% during the same month of 2019. Average daily rate (ADR) reached AED284.15 ($77.4) during the month, down 20.8% compared to September 2019, while revenue per available room (RevPAR) touched AED129.03, down 50.6% year-on-year (YoY). Even with the YoY declines, September was Dubai’s second consecutive month with occupancy above 40.0% (August: 41.0%). ADR and RevPAR, while substantially improved from pandemic lows, were lower than August levels. Via SyndiGate.info Copyright 2020 Al Hilal Publishing and Marketing Group ...read more...