STR’s preliminary January 2018 data for Dubai, United Arab Emirates, indicates occupancy-driven performance growth.
Based on daily data from January, Dubai reported the following in year-over-year comparisons:
- Supply: +3.6%
- Demand: +5.5%
- Occupancy: +1.5% to 86.4%
- Average daily rate (ADR): -0.6% to AED814.51
- Revenue per available room (RevPAR): +1.0% to AED703.89
High demand was enough to outpace somewhat slowing supply growth and push a positive occupancy comparison. 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 was aided by a fast-rebounding Russia source market, especially in beachfront properties.
STR will release full January results later this month. The January edition of STR’s market forecast is now available.
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