GulfBase Live Support
12/01/2017 07:55 AST
Dubai's hospitality sector recorded strong demand growth and lower rates consistent with significant supply during December 2016, according to STR's preliminary data for the month.
Based on daily data from December, Dubai reported the following in year-over-year comparisons: Supply: +5.7 per cent; demand: +9.1 per cent; occupancy: +3.2 per cent to 79.7 per cent; average daily rate (ADR): -8.4 per cent to Dh824.58; revenue per available room (RevPAR): -5.4 per cent to Dh657.37
This was Dubai’s highest December demand increase since 2011, the report said. The month closed with three consecutive nights of occupancy above 90 per cent, including a level of more than 95 per cent on New Year’s Eve.
Supply continues to grow in Dubai as the market prepares to host Expo 2020. STR analysts also note that while Dubai’s ADR decreased year over year, the metric is beginning to trend towards its usual Q1 levels, which are traditionally the highest of the year.
STR will release actual December 2016 results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights.
Trade Arabia
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
RIBL | 13.83 | 1,519,548 |
JARIR | 177.89 | 111,251 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
05/04/2018
Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa
Arab News
05/04/2018
In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.
A massiv
Arab News
05/04/2018
Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices
The National
05/04/2018
Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re
Times of Oman
05/04/2018
Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i
The Peninsula