Shopping Festival boosts Dubai hotels

04/03/2012 - Dubai Investment News
Shopping Festival boosts Dubai hotels

January’s Dubai’s Shopping Festival frenzy has had a highly positive impact on the city’s hotel industry. Hotels in the emirate registered significant growth in revenues and profits throughout the first month of 2012, according to new figures released by TRI Hospitality Consulting. The HotStats survey shows occupancy rose to 87.7% during January for four and five star properties across the emirate, marking an increase of 4.5%. Average Room Rates (ARR) rose by 9.9% respectively, while revenue per available room (RevPar) increased by an impressive 15.8% to $287.25.

Industry experts also predict this positive trend will continue throughout 2012: "The DSF has given a solid start to the year,” commented Peter Goddard, managing director of TRI Hospitality Consulting to Dubai’s Arabian Business. “I believe that Dubai hotels will continue to see strong performance levels during 2012.” The 17th edition of the Dubai Shopping Festival fell earlier this year compared to previous years. The timing of the 32 event, which began on 5th January, served to kick start what is already shaping up to be a very profitable year for Dubai’s thriving hotel market.