STR: Preliminary December data for Abu Dhabi hotels
LONDON—STR’s preliminary December 2019 data for Abu Dhabi, United Arab Emirates, indicates strong room rates despite weakened demand.
Based on daily data from December, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: flat
- Demand: -0.5%
- Occupancy: -0.6% to 77.1%
- Average daily rate (ADR): +6.4% to AED509.10
- Revenue per available room (RevPAR): +5.8% to AED392.64
Although supply remained flat year over year, the slight decline in demand pushed occupancy down for the month. STR analysts note that performance growth was especially pronounced at the beginning of the month, which coincided with the last day of the F1 Grand Prix (1 December), which produced heightened performance growth in occupancy (+20.9%), ADR (+203.1%) and RevPAR (+266.5%).
STR will release full December and total-year results later this month.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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