Dubai hotels are all ready to implement a small hike in average daily rates (ADR) for March, the first in almost a year, as per the new figures announced by analysts STR.
STR’s initial March 2018 statistics for Dubai depicted greater expansion in both supply and demand.
Based on daily statistics from March, Dubai notified a 5.4 percent increase in supply against a 4.7 percent hike in demand.
Occupancy increased by 0.6 percent to 85.7 percent whereas ADR hiked by 0.5 percent to AED752.49, the STR figures depicted while revenue every available room (RevPAR) fell marginally by 0.1 percent to AED644.97.
STR stated that the hike in ADR would be the first for the market from April 2017 and only the second overall since July 2014. STR analysts mentioned that the increase in ADR could be because to the shift in Saudi school holidays, which occurred March 10-20.
Total performance stays constant as demand (room nights sold) increases, but not as rapid as supply, they added.
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