Ras Al Khaimah’s tourism market experienced another positive quarter between April and June with over 197,000 guests confirmed, according to a new report.
CBRE's latest Ras Al Khaimah MarketView report said this brought the half yearly figure to 390,499, against an annual target of 900,000 visitors, equating to a 6.5 percent increase over the same period last year.
The report said there was also a 10 percent year-on-year increase in the number of international guest arrivals during the first half of the year.
Total guest nights rose 17.7 percent, average length of stay increased by 10.5 percent to 3.9 days and room revenue increased by 13.3 percent, CBRE added.
With visitor numbers steadily increasing and with limited new supply being added to the market, the emirate’s hotels have continued to generate positive occupancy growth, with a 6 percent increase in year-to-date average occupancy rates, according to data from STR Global.
Average occupancy rates for the last six months to June reached 75.1 percent, versus 70.9 percent for the same period in 2016.
Revenue per available room (RevPAR) figures also trended up, as a 0.6% increase in average room rates (ADR) and the positive occupancy performance resulted in a 6.6 percent increase.
This translated into AED456 per room per night versus AED426 for the same period in 2016.
Mat Green, head of Research & Consulting UAE, CBRE Middle East, said: “With the emirate’s continued hotel expansions and the completion of the new Hilton Garden Inn in May, RAK is set to reach an estimated total of close to 6,500 rooms by the end of 2018.”
According to the MarketView, from 2019 onwards, room supply will start to increase at a quicker pace, driven by the handover of new large scale resort properties in locations such as Al Marjan Island and Mina Al Arab.
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