Dubai hotel occupancy drops amid COVID-19 outbreak: STR

STR a leading global data benchmarking and analytics provider, shared preliminary data for Dubai’s hotel performance worsening, as concern around the COVID-19 pandemic broadens. Dubai hotel occupancy fell 9.4 per cent to 77.1 per cent in February, ADR decreased 14.4 per cent to 567.63 Emirati dirhams ($154.56) and RevPAR declined 22.5 per cent to 437.41 dirhams ($119.10). STR analysts noted that Dubai’s occupancy, ADR and RevPAR decreased for 37 consecutive days (February 1 through March 8) in year-over-year comparisons.

The steepest declines occurred in the most recent of those days. Of note, the market was already experiencing some declines in the metrics during the last two weeks of January, and the more significant decreases started on January 26.While Dubai has seen negative performance comparisons like most other major cities around the globe, STR analysts highlight the market’s ability to sell six of every 10 rooms on average during the first week of March. STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights.