The latest industry figures show Dubai’s hotels posted average occupancy levels of 88.8% during the month of November. The high levels had a knock on effect on Revenue per Available Room (RevPar), pushing levels up by an impressive 19% to $265.48. According to the report by TRI Hospitality and Consulting, Gross Operating Profit per Available Room (GOPPAR) also rose by 11.7% to $201.81 during the same month.
“The continued strong recovery in occupancy, rate and operating profit levels show why Dubai is still one of the prime destinations for hotel operators and investors. While everyone agrees that hotels in UAE have benefited from the Arab Spring, industry reports also show that there has been a general improvement in corporate activity in the recent months which we believe has contributed to the overall performance”, Peter Goddard, managing director, TRI Hospitality Consulting commented in Dubai’s Gulf News.
With forecasts for 2012 already proving highly promising, the news continues to remain positive for investors in Dubai’s hotel industry. This year will see a number of new hotels enter the market, including two more of The First Group’s Tecom hotel apartment developments; Metro Central and Grand Central.