STR: Preliminary July data for Dubai hotels
STR’s preliminary July 2017 data for Dubai, United Arab Emirates, indicates steep performance declines consistent with the year-to-year shift in Ramadan dates.
Based on daily data from July, Dubai reported the following in year-over-year comparisons:
- Supply: +5.6%
- Demand: +1.8%
- Occupancy: -3.6% to 65.7%
- Average daily rate (ADR): -11.5% to AED471.25
- Revenue per available room (RevPAR): -14.7% to AED309.76
Dubai’s hotel performance continues to be affected by supply expansion. Additionally, STR analysts note that July performance was affected by the Ramadan calendar shift, with the Eid al-Fitr holiday in late June this year versus early July last year. However, Dubai did not experience as severe a downturn as several other Middle Eastern markets during this year’s Ramadan period.
STR will release actual July 2017 results later this month.
