Dubai hotels posted big increases in occupancy and revenues during August compared to the year-earlier period, according to latest data released by STR Global.
The city's hospitality sector witnessed increases in supply (5.81 percent) and demand (30.4 percent) while occupancy rose 23.3 percent to 72.6 percent.
STR Global also said hotels reported a 8.7 percent increase in average daily rate to AED753.16 and a 34 percent rise in revenue per available room to AED546.61.
“Dubai’s hotel performance in August 2013 witnessed a jump compared to last year, which was mainly due to Ramadan that shifted business to the month of August”, said Elizabeth Winkle, managing director of STR Global.
“The sharp rise in demand offset the continuing growth of new supply."
She added that STR Global was forecasting an 11 percent RevPAR growth for year-end 2013 after strong years in 2011 and 2012.
Naureen Ahmed, manager, marketing and analysis at STR Global, said: “Dubai could benefit substantially from the Arab Spring, preserving its reputation as a safe destination to visit.
"Dubai has seen occupancy rates above 80 percent for the first five months of the year and demand will continue to outpace the growth of supply, solidifying its place as a desirable destination."
In July, Dubai tourism chiefs said more than 5.5 million tourists visited the city in the first half of 2013, representing an 11.1 percent year-on-year increase.
The first half visitor number results, released by Dubai’s Department of Tourism and Commerce Marketing (DTCM), showed increases across all key indicators, including hotel establishment guests, hotel and hotel apartment revenues, room occupancy and average length of stay.
Revenues for hoteliers and hotel apartment operators saw significant growth – with total first half revenues reaching AED11.62bn ($3.18bn) up by 18.6 percent.