Based on daily data from September, Dubai reported:
- a 0.3% decrease in occupancy to 76.1%;
- a 2.6% decrease in average daily rate to AED645.61;
- a 3.0% decrease in revenue per available room to AED491.08; and
- increases in supply (+5.4%) and demand (+5.1%).
Despite the decrease for the month, ADR in the market eclipsed AED800.00 for each day from 23-25 September. Overall, the shift of Eid al-Adha from October 2014 to September 2015 led to an 11.7% year-over-year increase in ADR during the week of 20-26 September.
Supply growth in Dubai remains significant, and demand improved from August. Through the first eight months of 2015, supply growth (+6.3%) outweighed demand growth (+5.2%) in the market.
STR Global will release September 2015 results during the week of 26 October. The August edition of the STR Global Hotel Market Forecast is now available.