STR’s preliminary January 2017 data for Abu Dhabi, United Arab Emirates, indicates sharp rate declines.
Based on daily data from January, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +3.9%
- Demand: +2.4%
- Occupancy: -1.4% to 74.2%
- Average daily rate (ADR): -10.0% to AED465.80
- Revenue per available room (RevPAR): -11.2% to AED345.68
STR analysts note that Abu Dhabi’s ADR levels were once again pressured by supply growth in the market. However, the market’s hotels did record a significant uptick in RevPAR (+23.6%) on the last day of the month, mainly due to the Global Space Congress (31 January-1 February). Occupancy around the event reached 90.2% on 30 January and 89.8% on 31 January.
STR will release actual January 2017 results later this month.
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