Dubai hotel market continues to thrive

17/12/2012 - Dubai Property News
Dubai hotel market continues to thrive

Dubai’s vibrant hotel market continues to go from strength to strength, with Average Room Rates rising 7.5% in October. ARR reached $347.25 during this month, compared to the same period last year, according to the latest HotStats survey by TRI Hospitality Consulting. Average occupancy also reached an impressive 87.1%, up 5.7% on October 2011, while Revenue per Available Room (RevPAR) increased by 15%. Gross Operating Profit per Available Room (GOPPAR) rose 20% to $258.58. Driving this growth were the Eid Al Adha holidays, which attracted nearly half a million tourists to Dubai, while events such as GITEX and Cityscape also served as a major draw for international visitors.