Demand for hotel rooms reached an all-time high in November, with above average occupancy rates, according to analysts STR.
STR’s preliminary November for data in Dubai shows a 5.6% increase in demand year-on-year, as well as a 2.7% increase in demand.
Occupancy remained above the November average of 83.6%. Notably, occupancy eclipsed 90% on four consecutive days during the Dubai Airshow.
The STR statistics also show that the average daily rate for Dubai hotel rooms dropped 1.1% to AED 754.11 ($205), while revenue per available room (RevPAR) fell 3.8% to AED 655.84 ($178).
STR analysts cite supply growth as the reason for the year-on-year increases in occupancy and average daily rates.
In November, STR released a report which noted that the supply of hotel rooms in Dubai will significant increase, as the emirate currently has 29,226 hotel rooms in 95 projects in various stages of planning – the largest construction pipeline in the Middle East.