GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate and Retail

 
  Share

12 April 2017 - Dubai UAE: “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. Among the GCC cities surveyed, the city-based hotels of Dubai saw the highest occupancy at 89.1%, while the beach-based hotels had the highest average room rate at US$399. Also in the UAE, Abu Dhabi experienced the highest increase in RevPAR compared to February 2016.

Abu Dhabi's hospitality market witnessed an increase across all KPI's in February 2017. Last month, RevPAR increased by 21.7% when compared to the same time last year, mainly due to the increase in ADR from US$139 in February 2016 to US$163 in February 2017 along with an increase in average occupancy of 3.1% in February 2017 when compared to the same period last year.

In February 2017, Dubai's hospitality market witnessed an increase in average occupancy by 4.0% when compared to the same time last year. The increase in occupancy may be a result of several events and exhibitions that took place in February such as the annual Dubai Jazz Festival, Gulf Food Exhibition, and the Bridal Show Event.

Kuwait's hospitality market witnessed an 8.0% increase in occupancy from February 2016 rising from 46.6% to 54.6% in February 2017, causing an increase in RevPAR by 2.8% from US$119 in February 2016 to US$122 in February 2017. The increase in occupancy could be attributed to the Hala February festivals, which include shopping and nightly celebrations.

Last month, Doha was able to maintain its RevPAR performance at US$138. Although the hotels experienced a drop in ADR from US$207 in February 2016 to US$189 in February 2017, they succeeded in increasing occupancy by 6.4% compared to the same period last year. The increase in occupancy may have been encouraged by the Doha Jewelry & Watches exhibition where attendance comprises of visitors from the wider MENA region.

In Saudi Arabia, Riyadh and Jeddah's hospitality markets witnessed a drop in RevPAR by 26.0% and 24.4% respectively when compared to the same period last year. The drop in Riyadh and Jeddah's hotel performance could be attributed to the decreased number of conferences and exhibitions due to corporate spending cuts in both the public and private sectors.

Muscat's hospitality market witnessed a decrease in RevPAR from US$167 in February 2016 to US$147 in February 2017, this was mainly due to the drop in ADR by 19.7% when compared to the same time last year. However, it should be noted that occupancy increased by 7.8% from 79.2% in February 2016 to 87.0% in February 2017.

The MENA hospitality market is expected to continue the trend of a softer performance but has seen improvements in a few cities due to annual exhibitions, events, and festivals that usually occur in the first quarter of the year.”



Posted by : GoDubai Editorial Team
Viewed 11797 times
Posted on : Wednesday, April 12, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : UAE Minister of Climate Change and Environment Endorses Launch of Majid Al Futtaim's Net Positive St...
Next Story : Centrepoint Pilot ‘Store of The Future' opens its doors at Doha Festival City
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Michael Kors Presents Spring 2018 Jewelry
Malabar Gold & Diamonds makes historic gain Opens 11 showrooms in a day across 6...
IKEA Welcomes Children in-store to Spread Love for the Arabic Language as Part o...
Transform Your Lips With Glitter Flip Liquid Lipsticks from Ciaté London
Max Fashion #ForgetFilters Campaign Celebrates Living for the Moment
LG Exploring New Commercial Opportunities With Expanding Robot Portfolio
New Year, New Skin with the Labo Transdermic Anti-Aging Range
Sports Bras Banishing Bounce by 83% arrive in store
LG's 2018 Speaker Lineup Wows With Premium Sound, Ease of Use and Now Smart Capa...
We Sheet You Not! Foreo Announces End of Face Mask Epidemic
Transform Your Skin In 2018 with QNET's Revolutionary Elixa Skincare
Emirates sends off UAE fans on special A380 flight to Kuwait
Experience the ultimate beauty extravaganza as MyBeautyFest kicks off with the i...
Golden Bridge Rectangle Diamonds designed to dazzle
Qabala joins Air Arabia's Azerbaijan network
Bubble Clown by Matt Barnes
Michael Kors Presents Spring 2018 Watches
DS Podium Chronograph Lap Timer – Racing Edition
Land Rover's 70th Anniversary Begins With Restoration of ‘Missing' Original 4x4
Coach presents the Grand Stainless Steel Bracelet Watch Collection
OMEGA and Pyeongchang 2018
Celebrate love with Rado
Corum Bubble Art For Those Who Appreciate A Work Of Art
Shimmering Gilda takes on a silvery sheen
New Year – New Savings now with Al-Futtaim Honda
Joyalukkas grows presence in Singapore with new showroom on Serangoon Road
Samsung Delivers Vision for Open and Intelligent IoT Experiences to Simplify Eve...
Samsung Electronics' 2018 Smart TVs Become First to be Industry-Certified for En...
Garden Party Style and Cult Classics: Swatch Launches Spring-summer 2018 Collection
Scuderia Ferrari presents the latest RedRev Watch Collection
New Year, New Skincare!
Dubai Culture Organises ‘Carnival of Ideas'
Marine Torpilleur Military made for men who chart their own destiny
World Future Energy Summit's inaugural Mobility Conference to discuss future of ...
Nissan and NASA extend research into autonomous mobility services
ADNEC Gears Up to Host Abu Dhabi Sustainability Week 2018
Mashreq Bank offering credit cards for every passion
EUROSTAR presents seven global tech majors at CABSAT 2018
Panasonic Jaguar Racing Set Their Sights on Marrakesh E-Prix
Abu Dhabi Quality and Conformity Council Completes Verification of Fuel Meters a...
Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Bil...
ZAKK Air specialised headset for athletes launched in UAE
Dubai Health Forum announces key speakers.
Dubai Customs receives Azerbaikjani outgoing Consul General
HP Fuels the Future of Computing at CES 2018
Nissan reaffirms importance of electrification at World Future Energy Summit
Property Remains Preffered 2018 Investment Asset for UAE Residents
Malabar Gold & Diamonds strengthens its global position as a leading jewellery r...
UAE Rejoice: PAN Emirates to not charge VAT to customers in 2018
Dubai Fitness Challenge Inspires Over a Million People, Leaving Active Lifestyle...