Thursday, September 24, 2020
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Dubai hotels shrug off occupancy dip to hold growth path

Dubai: Dubai hotels posted a 2 per cent decline in occupancy to 83.4 per cent in October, according to a HotStats survey by TRI Hospitality Consulting Middle East.

However, occupancy for the month exceeded the rate posted last October by 3.5 per cent, the survey showed.

Meanwhile, average room rates (ARR) — a benchmark for performance — for the same period were up 9.4 per cent to $396.87 (Dh1,457), increasing revenue per available room (RevPAR) by 6.8 per cent to $330.80.

In addition, gross operating profit per available room (GOPPAR) rose 7.6 per cent to $280.70 — the highest of the five markets surveyed in the Middle East and North Africa (Mena).

“The holidays helped Dubai attract strong demand from visitors within the region and Saudi Arabia in particular, while MICE [Meetings, Incentives, Conferences, Exhibitions] activity returned to the market as the city hosted several events,” Peter Goddard, managing director of TRI Hospitality Consulting in Dubai, said in a statement.

Meanwhile, Abu Dhabi’s occupancy levels in October were up 8.4 per cent to 79.6 per cent, while ARR grew by 16.8 per cent to $182.37 and RevPAR rose 30.6 per cent to $145.13.

Over in Doha, hotels registered a 1.1 per cent increase in occupancy to 68.7 per cent, while ARR fell 6.5 per cent to $237.06, and RevPAR declined 5 per cent to $162.95.