Dubai: Hotel occupancy in Dubai stood at 88.4 per cent during March, the strongest in the region, according to the latest HotStats survey, published by TRI Hospitality Consulting.
Average room rates (ARR), meanwhile, touched $398.71, up 5.6 per cent, boosting profit margins, with gross operating profit per available room (GOPPAR) reaching $305.02 or 53.3 per cent of total revenue, as per the survey.
During the first quarter of the year, hotels in the emirate saw ARR grow by 5.6 per cent to $389.99, while revenue per available room (RevPAR- a benchmark for performance) was up 4.5 per cent.
“Although the market witnessed stagnant performance during March, the strong growth experienced in January and February ensures the market maintains positive heading into the summer period,” said Peter Goddard, managing director at TRI Hospitality Consulting, in a statement.
Meanwhile, hotels in Abu Dhabi saw occupancy rise by 4.3 per cent during March and by 4.4 per cent to 79.1 per cent during the first quarter of the year. ARR increased by 2.2 per cent to $157.76 in March, boosting RevPAR by 7.8 per cent.
“The leisure segment [in Abu Dhabi] experienced the highest growth in demand during the first quarter of 2014, with recreational facilities on Yas Island and Saadiyat Island generating increased demand for hotels in the capital,” Goddard said.
Elsewhere in the region, hotel occupancy in Cairo dropped to 39 per cent last month, while RevPAR declined 3.8 per cent.
In Riyadh’s hotels, occupancy was up 10.7 per cent to 72.5 per cent, and RevPAR stood at $185.40, marking an increase of 12.1 per cent.
