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Mon 14 May 2018 04:19 PM

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Abu Dhabi hotel occupancy rates set to hit 10-year high for April

Analysts STR says occupancy rose by 2.7% to 80% in the UAE capital last month, the highest mark since 2008 for April

Abu Dhabi hotel occupancy rates set to hit 10-year high for April

Occupancy levels at Abu Dhabi hotels are set to hit a 10-year high for April, according to new data from analysts STR.

Its preliminary April 2018 data for the UAE capital indicated higher occupancy levels and lower room rates.

Based on daily data from April, Abu Dhabi hotels reported a 4.1 percent increase in supply against a 6.9 percent jump in demand.

STR said occupancy rose by 2.7 percent to 80 percent, the highest mark since 2008, while average daily rate (ADR) fell by 3.3 percent to AED432.12 and revenue per available room (RevPAR) dropped by 0.7 percent to AED345.88.

STR analysts noted that despite an absence of high-impact market events, this is the second consecutive April with occupancy growth in Abu Dhabi.

They added that ADR decreases have been common in the market with supply growth a factor in that trend.

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