Based on daily data from November, Dubai reported:
- increases in supply (+5.4%) and demand (+2.4%);
- a 2.9% decrease in occupancy to 83.0%;
- a 7.1% decrease in average daily rate to AED889.13; and
- a 9.8% decrease in revenue per available room to AED737.71.
Significant supply growth has placed pressure on occupancy and rate in Dubai. However, absolute occupancy in the market remains high and is in line with historical averages for November.
The number of November visits to Dubai was boosted by the Big 5 International Building & Construction Show (23-26 November); DP World Tour Championship golf event (19-22 November); the Dubai International Motor Show (10-14 November); Dubai Airshow (8-12 November); and Formula 1 Abu Dhabi Grand Prix (27-29 November).
STR Global will release November 2015 results later this month. The November edition of the STR Global Hotel Market Forecast is now available.