Dubai hotel market continues to shine

22/04/2012 - Dubai Property News
Dubai hotel market continues to shine

Dubai’s rapidly growing hotel market continues to go from strength to strength. Occupancy levels rose to an average of 86% during the month of February 2012, according to new figures released by Jones Lang La Salle – 4% higher than the same period last year. The global firm’s Dubai Real Esate Outlook report also revealed that Average Room Rates (ARR) rose by 9% in the first two months of 2012. The combination of this boost in occupancy and ARR has serve to push overall Revenue per available room (RevPar) up by more than 15% since last year, to a $266 average. At the end of 2011, Dubai’s hotel room supply stood at 53,400, with a total of 5,100 new guest rooms expected to come online by the end of this year.