Dubai’s hotel industry saw its saw highest April 2023 occupancy levels during the Eid-al Fitr holiday period, according to preliminary data from STR.
April 2023 (year-over-year % change)
- Occupancy: 71.4% (+21.3%)
- Average daily rate (ADR): AED751.19 (-4.7%)
- Revenue per available room (RevPAR): AED536.32 (+15.6%)
The market’s highest occupancy level was recorded on Saturday, 22 April (90.1%) – the only day of the month the metric surpassed the 90% mark. Daily RevPAR for the month also reached its highest level on this date, at AED707.03.
Peak ADR for the month occurred from 4-11 April, with the metric coming in above AED800 daily, in line with the Easter holiday. Key source markets, such as the U.K., contributed to the high performance during this period.
Overall, the market’s occupancy levels remained above 80% from 21 April onwards.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.