From January to October 2021, the average daily rate along with revenue per available room (RevPar) in this desert city increased 14.9 percent and 57.1 percent, respectively, as per a report from global consultancy CBRE.
RevPar is a key performance metric calculated by multiplying average daily room rate of hotels by its occupancy rate. All over UAE, hotel occupancy in the meantime increased 13.6 percent during the period with RevPar rise by 44.9 percent, as per the CBRE estimates.
“In October 2021, with the commencement of Expo 2020 and increasing levels of international visitation, we have seen a significant uplift in KPIs in the UAE,” the report said.
“The average occupancy rate across the UAE in October registered at 78.8 percent, the highest level recorded in October since October 2015. As of October 2021, Dubai recorded the highest occupancy rate of 80.7 percent.”
Expo 2020 Dubai has been drawing many visitors. In the initial five weeks, the global trade fair recorded 3 million visits since it kick-started on October 1st, as per official data.
“With growing international visitation, an increasing number of global locations re-entering lockdowns and a number of planned events at Expo 2020, we envisage both international and domestic leisure tourism, combined with returning corporate tourism, will continue to underpin strong performance levels across the UAE,” said Taimur Khan, head of research, Mena at CBRE in Dubai.
Tags: UAE, Dubai hotels