Dubai Hotels Enjoy Upsurge

28/11/2011 - Dubai Property News
Dubai Hotels Enjoy Upsurge

Dubai’s hotels have been enjoying a steady surge in occupancy levels and higher than average room rates since mid October, according to new industry figures. With the tourist season in full swing, analysts predict this upward momentum will continue well into 2012. Many hotels in the emirate have been recording occupancy levels as high as 85% from October onwards. According to the figures by STR Global, Dubai’s hotels posted a 13.5% rise in revenue per available room (RevPAR), reaching an average of $194.05 – the second highest in the Middle East and Africa region.

Dubai also topped the MENA region for hotel occupancy over the first nine months of 2011, with levels reaching an average of 80.4%. According to the MENA Chain Hotels Market Review by TRI Hospitality Consulting, Abu Dhabi came in second at 67.2%. The number of nights in Dubai’s hotels rose by 26% to 23.68 million, with a total of 6.64 million guests visiting in the first three quarters of 2011. The figures show Dubai’s hotel industry continues to outperform the rest of the region, and indeed rival many other established global markets. The outlook remains positive well into 2012 as the emirate gears up for major events such as Dubai Desert Classic world golf and the Dubai Shopping Festival in February. For information on investing in Dubai’s vibrant hotel industry, check out The First Group’s opportunities in Tecom; First Central, Metro Central and Grand Central online at www.thefirstgroup.com