Dubai's Metro Central hotel 'surpasses performance benchmarks'
Auris Metro Central Hotel Apartments is currently enjoying great successes, surpassing competitive benchmarks in several different areas during the course of March this year.
The property, managed by hotel asset management company TFG Asset Management, was able to smash targets set for revenue per available room (RevPAR), average daily rates (ADRs) and occupancy rates - all of which will be fantastic news for investors in the hotel.
While The First Group is charged with constructing high-quality hotel property developments, TFG Asset Management is responsible for building and maintaining relationships between investors and operators.
This means that return on investment (ROI) is kept at a healthy level which keeps owners of the development very happy indeed.
When performance was measured by new hotel benchmarking indices, Metro Central, located in Dubai's TECOM district, earned top honours in its average occupancy and market penetration rates.
TECOM has quickly become a hotspot in Dubai for business tourism, attracting meetings, incentives, conference and exhibitions (MICE) visitors from across the globe - which have added $653 million (£430.3 million) to the UAE's economy every year since 2000.
Figures from STR Global's Occupancy Penetration Index/Market Penetration Index (MPI) reveal that the property ranked first, achieving an impressive score of 104 - with a score of 100 indicating a strong position in the market.
MPI is calculated by analysing the ratio between a hotel's total number of occupied rooms at any given time compared to the market average.
Metro Central also ranked first on the RevPAR Index/Revenue Generated Index (RGI), which measures how much profit is made on each available room, achieving a score of 114.
STR Global calculates RGI by using a similar approach to working out MPI, with a score of 100 reflecting a strong market performance for the hotels analysed.
To top off its incredible performance, Metro Central also came second in terms of the Average Rate Index, achieving a score of 110. The firm notes that a score above 100 demonstrates that a property's performance has exceeded that of its competitors.