Dubai Hotels Top Regional Ranks

19/09/2011 - Dubai Investment News
Dubai Hotels Top Regional Ranks

Hotels in Dubai posted the highest revenue per available room (RevPar) of Dh470 during the month of July. The figures mark an increase of 22% on 2010, according to a recent study by Ernst & Young Middle East. The emirate also topped the regional ranks in terms of occupancy for July, with levels reaching 80.8% - marking close to a 10% rise on the year before.

"Dubai remains one of the most steadily growing markets in the region. Egypt, especially Cairo and Sharm Al Shaikh, registered the strongest declines in terms of occupancy and room yields,” As Yousef Wahbah, Mena Head of Transaction Real Estate at Ernst & Young commented.

French research firm, MKG Hospitality echoed these findings in another survey on hotel markets in the MENA region, once again putting the UAE at the top of the rankings: "The UAE records the largest occupancy rate increase in all of Mena for the second consecutive month. Indeed, this is a firm sign of market consolidation, perhaps gradually reliving to its former glory. Dubai is heading this momentum,” Vanguelis Panayotis, Director of Development at MKG Hospitality, told Dubai newspaper, Gulf News.

The research is good news for the city’s hotel industry, which has remained buoyant throughout the summer period. Look out for The First Group’s newest arrivals within the sector, in the form of Tecom projects, Metro Central, First Central and Grand Central Hotel Apartments.