According to preliminary STR data, hotels in Dubai, United Arab Emirates, reported occupancy-driven performance growth.
The data shows that in January 2018, occupancy rose 1.5% to 86.4%, while ADR declined 0.6% to AED 814.51 (US$221.79) and RevPAR increased 1% to AED 703.89 ($191.67).
Both supply and demand increased in comparisons to last year, with supply up by 3.6% and demand increasing by 5.5%.
High demand was enough to outpace somewhat slowing supply growth and push a positive occupancy comparison, reported STR. As a result, Dubai saw its first January increase in RevPAR since 2014. STR analysts note the year-over-year change in supply would be the lowest for any month since November 2012.
Additionally, demand growth was also pushed by a fast-rebounding Russia source market, especially in beachfront properties.