São Paulo – The hotel industry in Dubai, UAE had its lowest Q2 occupancy rate in ten years, the website of local magazine Arabian Business quoted data solutions provider STR as reporting.
Dubai occupancy dropped to 67.1% in Q2, the lowest since 2009, with supply outpacing demand for the sixth straight quarter.
Absolute average daily rate and revenue per available room were the lowest since 2003.
June was the best month, with demand going up 30.5% and driving an improvement in monthly results.
In Q2, the average daily rate was down 12.3% to AED 513.73 (USD 140). Revenue per available room slid 13.1% to AED 344.65 (USD 94).
“Hotels in the wider Middle East reported mixed second-quarter performance results,” Arabian Business reported. Occupancy climbed 2.6% to 61.7%, with average daily rate sliding 7.2% to USD 147.44, and revenue per available room dropping 4.8% to USD 91.03.
Translated by Gabriel Pomerancblum
