Business | Tourism
Hotel occupancy in Dubai drops 14%
Hotel occupancy rates in the Gulf's tourism hub Dubai fell 14 per cent in the third quarter compared to the same period a year earlier, latest data from the emirate's Department of Tourism showed.
- Reuters
- Published: 23:31 January 12, 2009
Dubai: Hotel occupancy rates in the Gulf's tourism hub Dubai fell 14 per cent in the third quarter compared to the same period a year earlier, latest data from the emirate's Department of Tourism showed.
The occupancy rate for hotel beds declined to 75.2 per cent from 83.1 per cent a year earlier, the data showed, while the number of guest-nights in hotels dropped 3.5 per cent.
But the number of hotel rooms available grew 13.3 per cent, and the number of beds rose 9.9 per cent.
Total revenue by hotels in the second quarter rose 11.6 per cent to Dh2.55 billion ($694.2 million) compared to the previous year.
The tide has turned quickly in Dubai as slumping oil prices and the global financial meltdown put an end to the glitzy emirate's property boom, forcing companies to slash jobs and cancel some dramatic expansion projects.
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