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Dubai hotels continue de luxe performance
DUBAI - Dubai's hospitality sector continues to outperform other markets in the world as the emirate recorded the highest occupancy rate during the first eight months of the year compared to other selected key regions in the same period, according to a latest study.
- PUBLISHED: Thu 7 Oct 2010, 11:38 PM UPDATED: Mon 16 Sept 2024, 11:45 AM
Hotels in Dubai topped in occupancy rate that reached to the level of 69.7 per cent after witnessing a 2.8 per cent rise, compared to same period a year ago, according to Deloitte's analysis of STR Global Hotel Performance Data for theMiddle East.
The hospitality market in the Middle East, which suffered a slight decline of 2.7 per cent in occupancy rate to 60.2 per cent during the first eight months, still remains dominant in revenue generation in the world.
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The region's revenue per available room, or revPAR, a key performance indicator for the hotel industry, reported at $116 during the period year-to-date, or YTD, August 2010, compared to $79.8 in Europe, $82.7 in the Asia Pacific region, and $59 in the Americas during thesame period.
“Hotel occupancy in the region continues to be impacted by the additional hotel rooms that have entered the market; it remains difficult to predict the longer term impact on RevPAR of absorbing this additional room stock,” the report said.
RevPAR for Dubai was estimated at $147.48 during the period YTD August 2010, representing a slight decline of 4.4 per cent from the corresponding period in 2009.
“Continued marketing and promotion efforts undertaken by the city's hotels have contributed growing occupancy,” Deloitte said in its report.
Abu Dhabi recorded the highest drop in occupancy level as it suffered a 25.3 per cent decline. The level in the capital for the period YTD August 2010 was 55.3 per cent, compared to 74 per cent in the first eight months of last year.
Occupancy in Jeddah for the period YTD August 2010 was 66.8 per cent, down by 0.4 per cent from 67 per cent during the corresponding period in 2009. RevPAR stood at $126.93 during the period YTD 2010, compared to $119.04 in the corresponding period in 2009. “The steady growth observed in Jeddah can be attributed to continued growth in business activities and limited supply of hotel rooms,” the report said.
· abdulbasit@khaleejtimes.com
