STR: Preliminary November data for Dubai hotels
LONDON—STR’s preliminary November 2019 data for Dubai, United Arab Emirates, indicates strong demand but declining rates.
Based on daily data from November, Dubai reported the following in year-over-year comparisons:
- Supply: +8.8%
- Demand: +8.9%
- Occupancy: +0.1% to 84.4%
- Average daily rate (ADR): -9.3% to AED610.19
- Revenue per available room (RevPAR): -9.2% to AED515.01
Supply and demand grew at roughly the same healthy pace during the month. STR analysts note that the current competitive environment continues to place pressure on hoteliers to keep ADR in line with year-to-date trends.
Of note, RevPAR growth reached double-digits during the first three days of the Dubai Airshow (17-21 November). That came even with performance comparisons affected by an off year for the biennial Helishow.
STR will release full November 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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