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Dubai, Abu Dhabi hotels post surge in occupancy rates
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16 March 2011 |
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Dubai's hotels recorded a 7.9 per cent surge in occupancy to reach 76.6 per cent in January 2011, "a significant achievement" in the face of increased room supply, according to data compiled by STR Global.
In January, Dubai hotels witnessed an increase of 2.6 per cent in revenue per available room (RevPAR) to reach $178, the highest in the Middle East that boasts an average RevPAR of only $127 in the same month.
Deloitte analysis of selected STR Global Hotel performance data for the Middle East also shows that Dubai hotel sector had been quite busy in January with a host of events boosting both occupancy rates and RevPAR. Abu Dhabi's occupancy during January rose to 60.9 per cent from 50.2 per cent during the same 2010 period. But RevPAR slumped to $116 from $141 during the corresponding 2010 period, STR data shows.
Analysts at Jones Lang LaSalle predicted that Dubai hotel market would stabilize in 2011 while Abu Dhabi hotels sector would continue to soften.
"In 2011, Dubai's hotels will see repositioning of several old five star hotels to compete with new flagship properties. There will be increased focus on asset management while the addition of more budget hotels will broaden Dubai hotel market," JLL said. In Dubai, new hotel room inventory is poised to suffer with 3,400 rooms being added this year compared to 7,700 rooms last year while in Abu Dhabi hotel rooms are expected to grow by 3,000 this year compared to 1,250 in 2010, it said.
RevPAR in the Middle East in January was $ 127 during January, nearly double compared to $65 in Europe. It was $90 in the Asia Pacific region, and $48 in
 the Americas.
Overall, occupancy in the Middle East witnessed an increase of 13.1 per cent in January compared to the corresponding period in 2010, Deloitte STR Global said. Abu Dhabi Tourism Authority, or ADTA, has set a stretch target for 2011 hotel guests of two million, up from 1.9 million in 2010, following a stellar performance by the emirate's 116 hotels and hotel apartments last year. The stretch target will require a 10.5 per cent rise in hotel guest numbers on 2010.
"We have our work cut out for us with another 4,000 plus rooms, in both business and leisure hotels and resorts, due on line this year adding to our existing room stock of 18,844," said Mubarak Al Muhairi, Director General, ADTA.
Elsewhere in the region, hotel occupancy in Muscat went up by 17.3 per cent to 60.9 per cent in January while RevPAR surged by 28.9 per cent to $173, compared to $134 in 2010.
Jeddah's hotel occupancy was recorded at 59.2 per cent in January 2011 showing a three per cent decline from the corresponding period in 2010. The city's RevPAR witnessed an increase of five per cent to reach $115 in January 2011, compared to $109 in the corresponding period in 2010.
Hotels in Beirut witnessed occupancy of 41.6 per cent in January compared to 52.6 per cent during the corresponding period in 2010. RevPAR declined by 24.6 per cent to $86 during January 2011.
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Source: beta.thehindu.com |
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