STR’s preliminary July 2016 data for Abu Dhabi, United Arab Emirates, indicates occupancy growth and lower rates.
Based on daily data from July, Abu Dhabi reported the following in year-over-year comparisons:
- increases in supply (+4.1%) and demand (+7.9%);
- a 3.7% increase in occupancy to 61.6%;
- a 5.4% decrease in average daily rate (ADR) to AED368.43; and
- a 1.9% decrease in revenue per available room (RevPAR) to AED227.07.
The Ramadan calendar shift between 2015 (18 June to 17 July) and 2016 (6 June to 5 July) led to significant variance in Abu Dhabi’s monthly performance figures for June and July. When shifting the comparison to the two Ramadan periods, 2016 resulted in a 14.3% decrease in RevPAR. That decrease was driven equally by lower occupancy levels and lower ADR.
STR will release actual July 2016 results during the week of 22 August.
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.
Logos, product and company names mentioned are the property of their respective owners.