Supply and demand is on the rise in Dubai according to figures released by STR – unfortunately the same data also points to significant drops in Revenue Per Available Room (RevPAR) and Available Daily Rate (ADR).
Supply is up by 56% for the month of September, while demand has grown by 0.6%. ADR has fallen by 10.6% to AED497.67 and RevPAR has dropped by 14.8% to AED381.20.
“In addition to supply growth, STR analysts note that a decline in events in the market compared with September 2016 might have weighed on Dubai’s performance for the month,” said a spokesperson for STR.
“For example last year, Dubai hosted the biennial International Congress of the International Society of Blood Transfusion. Additionally, residents experienced a shorter vacation period this year, as the Eid Al Adha holiday shifted from 11-18 September in 2016 to 31 August to 3 September in 2017.”
The spokesperson added that a full report for September will be released later this month.
