Abu Dhabi Hotels Report Slight RevPAR Decline for April 2018
Hotels in Abu Dhabi, United Arab Emirates, reported occupancy rose 2.7% to 80% in April, according to preliminary monthly data from STR. ADR dropped 3.3% to 432.12 Emirati dirhams ($117.66) and RevPAR dipped 0.7% to 345.88 dirhams ($94.18).
STR’s preliminary April 2018 data for Abu Dhabi, United Arab Emirates, indicates higher occupancy levels and lower room rates.
Based on daily data from April, Abu Dhabi reported the following in year-over-year comparisons:
• Supply: +4.1%
• Demand: +6.9%
• Occupancy: +2.7% to 80.0%
• Average daily rate (ADR): -3.3% to AED432.12
• Revenue per available room (RevPAR): -0.7% to AED345.88
STR analysts note that despite an absence of high-impact market events, this is the second consecutive April with occupancy growth in Abu Dhabi. In fact, the absolute occupancy level would be the highest for an April in the market since 2008.
ADR decreases have been common in the market with supply growth a factor in that trend.
STR will release full April results later this month. The May edition of STR’s Market Forecast will be available at the end of the month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Market Reports