Dubai’s hospitality market witnessed an increase in average occupancy by 4 per cent when compared to the same time last year, according to a new report from British professional services firm EY.
“Among the GCC cities surveyed, the city-based hotels of Dubai saw the highest occupancy at 89.1 per cent, while the beach-based hotels had the highest average room rate at $399. Also in the UAE, Abu Dhabi experienced the highest increase in RevPAR compared to February 2016,” Yousuf Wahbah, MENA Head of Transaction Real Estate at EY, said in a statement.
According to EY’s February 2017 MENA hotel benchmark survey report, Abu Dhabi and Dubai’s hospitality market witnessed an increase in occupancy in February 2017.
EY’s report ascribes the increase in occupancy to several events and exhibitions that took place during the month of February 2017, such as the Gulf Food Exhibition and the Bridal Show Event.
The report provides a monthly performance overview of leading hotels in the Middle East.
The hotel set covered in the report includes international branded and operated properties across the five-star and four-star segments.
“Overall, the hospitality market across the GCC witnessed an even split in increases and declines of KPIs in February 2017 when compared to the same month last year. In the GCC, half of the markets saw an increase in revenue per average room (RevPAR), these were the UAE, Kuwait, and Qatar; while the other half, KSA, Oman, and Bahrain, saw a slowdown in performance,” said Wahbah.