Dubai’s hotel industry continues to be the best performer within the city’s real estate market, according to a new report by Jones Lang LaSalle (JLL). A rise in tourists to the emirate has led to higher occupancy and revenue per available room (RevPAR). Recent unrest elsewhere in the Middle East, dubbed the ‘Arab Spring,’ has also contributed to the increase in visitor numbers.
"While the hotel sector has been the major beneficiary of the Arab Spring, the retail and residential property sectors have also received a boost over the past nine months. The regional upheaval has re-enforced Dubai's position as a global destination with many tourists rescheduling their holidays to the UAE due to volatility elsewhere in the region," the report said.
Occupancy levels at hotels in Dubai averaged 80.8% during July compared to 70.3% during the same period last year, marking a rise of 10.5%, according to the E&Y Middle East Hotel Benchmark Survey. The outlook for the coming months also points to continued growth – good news for investors in Dubai’s vibrant hotel sector.