Hotels in Dubai have been crowned one of the best performers in the Middle East in 2011, beaten by Saudi Arabia’s Riyadh in just two categories. That’s according to a new report by TRI Hospitality Consulting, which surveyed average room rates (ARR), occupancy levels and gross operating profit per available room (GOPPAR) in hotels across the region.
While Riyadh posted the highest average rooms rates of $261.89 and highest GOPPAR of $138.01, Dubai remained top of the region for occupancy and revenue per available room (RevPAR). The emirate’s occupancy levels reached 81.8% on average throughout 2011, far out weighing Riyadh at 60.5%. Dubai’s occupancy levels for the month of December also rose to 85.1%, while average room rates shot up by 12.4%.
Overall 2011 has been a highly prosperous year for Dubai’s hotel industry, with ARR up by 7.6% to $205.50 and a 5% increase in GOPPAR to $126.84.