The Dubai Shopping Festival failed to boost Dubai hotels declining revenue per available room (revPAR) during January, according to new data from STR Global.
The hospitality research company said revPAR in Dubai during January fell by almost 40 percent on certain days in January 2009 compared to the previous year.
“We are seeing a classic knee-jerk reaction to a fall in occupancy with waves of panic pricing. The last thing revenue managers want to do is suffer twice. Both from the fall in occupancy and then in rate,” said James Chappell, managing director of STR Global.
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