The month of April saw Dubai’s buzzing hotel industry post its highest revenue per room rates (RevPAR) for three years. RevPAR shot up by 9.4% to $311.12, while occupancy levels also rose by 0.6% and average room rates by 8.6%. Overall, Dubai’s gross profit per available room increased by 7.2% in April compared to the same period last year.
According to TRI Hospitality Consulting’s latest HotStat industry figures, Dubai performed ‘significantly’ higher than the other GCC cities in the survey, including Abu Dhabi. While Dubai’s hotel figures continued to rise, the neighbouring emirate and UAE capital witnessed a decline in both rates and profits. TRI Hospitality Consulting cited Dubai’s "consistently strong corporate and leisure demand" as well as range of international events as the main factors driving the city’s continued strong performance.
This year Dubai’s hotel industry has gone from strength to strength, posting some of the highest figures for years. The outlook for 2012 remains highly positive, with the current strong growth forecast to continue. The First Group looks forward to adding to the emirate’s vibrant market through the launch of more prestigious hotel apartment developments, including its latest project, TFG Dubai Marina Hotel, located in the city’s most coveted property district.