By Staff writer
Latest STR Global data shows 2.9% fall in occupancy while RevPAR drops nearly 10% compared to Nov 2014
Significant supply growth has placed pressure on occupancy and rates for Dubai hoteliers in November, according to new figures.
STR Global’s preliminary November data for Dubai revealed increases in supply (up 5.4 percent) were more than double that of demand (up 2.4 percent).
Based on daily data from November, Dubai reported decreases in all performance indicators when compared with the year earlier period.
Average occupancy across Dubai hotels fell by 2.9 percent decrease to 83 percent but STR Global said absolute occupancy in the market remains high and is in line with historical averages for November.
It added that the number of November visits to Dubai was boosted by the Big 5 International Building & Construction Show, DP World Tour Championship golf event, the Dubai International Motor Show, Dubai Airshow and Formula 1 Abu Dhabi Grand Prix.
Dubai hoteliers also saw a 7.1 percent decrease in average daily rate to AED889.13 in November, while revenue per available room fell by 9.8 percent to AED737.71.