Dubai’s Hotels Have the Most Vacant Rooms in 18 Years - Bloomberg

Dubai’s Hotels Have the Most Vacant Rooms in 18 Years - Bloomberg:



"Dubai’s hotels had the lowest occupancy in at least 18 years in July, standing more than half empty, as more rooms were created and demand declined, according to research firm STR Global.



Occupancy declined 11.8 percentage points to 45.4 percent from a year earlier, STR Global said in a report dated yesterday. That’s the lowest since the company began tracking the Dubai hospitality market.



Dubai, which built some of the world’s most recognizable hotels such as the sail-shaped Burj al Arab, plans to almost double the number of hotel rooms by 2020 as it expects a surge of visitors ahead of the World Expo that year. The emirate is targeting about 160,000 rooms, many of them in the three- and four-star category rather than the luxury segment, Helal Saeed Almarri, director general of the Dubai Tourism and Commerce Marketing, said in March."



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