STR figures show that average daily rate and revenue per available room levels fall to lowest in Dubai since 2003
Hotels in Dubai suffered the lowest second quarter occupancy rate since the time of the global economic a decade ago, according to new figures released by analysts STR.
Occupancy in the emirate fell by 0.9 percent in Q2 to 67.1 percent, its lowest mark since 2009 as supply outgrew demand for the sixth consecutive quarter.
STR analysts also noted that the absolute average daily rate (ADR) and revenue per available room (RevPAR) levels were the lowest since 2003.
They added that June was the strongest month of the quarter with a 30.5 percent increase in demand, which helped monthly performance levels.
ADR fell 12.3 percent to AED513.73 in Dubai in Q2 while RevPAR dropped by 13.1 percent to AED344.65.
Hotels in the wider Middle East reported mixed second-quarter performance results.
Occupancy rose by 2.6 percent to 61.7 percent while ADR fell by 7.2 percent to $147.44 and RevPAR decreased 4.8 percent to $91.03.