Dubai hotels achieved a 3.4 per cent year-on-year growth in occupancy levels, reaching 90.8 per cent, according to preliminary data for February released by CoStar, a leading provider of global real estate information.
Other key metrics also showed positive growth, with the average daily rate (ADR) increasing by 9.3 percent to AED887 ($241) and revenue per available room (RevPAR) rising by 13.1 per cent to AED805.
Dubai hotels witnessed a significant surge in occupancy rates during the period between February 20 and 22, with levels reaching 96.2 percent, 96.8 percent, and 96.5 percent respectively.
Dubai hotel occupancy rates 2024
It was indicated that daily occupancy levels in the market remained above 80 per cent throughout the entire month.
The daily room rate increased on Wednesday, February 21, reaching AED1,114 ($303).
Events contributed to the performance of hotels in the market during the month, including:
- Gulfood held between February 19 and 23
- FIFA Beach Soccer World Cup between February 15 and 25
- Dubai Duty-Free Tennis Championships between February 18 and March 2
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