STR’s preliminary February 2016 data for Abu Dhabi, United Arab Emirates, indicates performance decreases driven by an off year for the biennial International Defence Exhibition and Conference (IDEX).
Based on daily data from February, Abu Dhabi reported the following in year-over-year comparisons:
- an increase in supply (+4.0%) and a decrease in demand (-1.7%);
- a 5.5% decrease in occupancy to 76.3%;
- a 28.5% decrease in average daily rate (ADR) to AED493.02; and
- a 32.5% decrease in revenue per available room (RevPAR) to AED376.17.
Abu Dhabi’s February performance reflects the impact of events and conferences on the market’s hotels. In February 2015, IDEX boosted RevPAR 29.9%. For the first day of the conference last year, RevPAR was up 162.0% due to a 125.8% increase in ADR.
Additionally, STR analysts note that supply in Abu Dhabi continued to grow in February 2016, while demand softened due to a lack of events.
Abu Dhabi will host next year’s IDEX from 19-23 February 2017.
STR will release February 2016 results during the week of 21 March. The February edition of STR’s Hotel Market Forecast is now available.