São Paulo – Dubai hotels are lowering their rates to keep prices competitive as demand goes up leading up to Expo 2020. As per August figures, the emirate’s hotel sector saw supply go up 7.6%, while demand climbed 7.4%. Pictured above is the Atlantis The Palm, a high-end hotel in Dubai.
The numbers are from the US-based STR, formerly Smith Travel Research, which tracks supply and demand data in various global industries.
STR’s August report on Dubai showed a significant hike in hotel supply and demand, with competitive rates to address the growing supply. Occupancy was down marginally by 0.2% to 68.5%, with the average rate dropping 12.5%, to AED 389.11 (USD 105.95 at today’s exchange rate).
STR reported revenue per available room down 12.6% to AED 266.57 (USD 72.58). Its analysts noted that sliding rates coupled with rising supply have been a widespread trend in key Middle East markets ever since the 2014 oil price slump.
formerly Smith Travel Research, which tracks supply and demand data in various global industries.
STR’s August report on Dubai showed a significant hike in hotel supply and demand, with competitive rates to address the growing supply. Occupancy was down marginally by 0.2% to 68.5%, with the average rate dropping 12.5%, to AED 389.11 (USD 105.95 at today’s exchange rate).
STR reported revenue per available room down 12.6% to AED 266.57 (USD 72.58). Its analysts noted that sliding rates coupled with rising supply have been a widespread trend in key Middle East markets ever since the 2014 oil price slump.
Translated by Gabriel Pomerancblum
