Dubai hotel revenues down by 15% in first 10 months of 2019 - survey - Arabianbusiness:
Dubai's hotel sector reported a 15 percent drop in revenues during the first ten months of the year, despite occupancy levels remaining relatively static.
According to The Middle East Hotel Benchmark Survey by EY MENA, occupancy levels across Dubai stood at 73.5 percent between January and October 2019, down only slightly from an average of 74 percent during the same period last year.
However, average room rates across the period was $217, down from $254 during the same period last year. As a consequence, the average Revenue per Available Room (RevPAR) was down 15 percent to $160.
Dubai's hotel sector reported a 15 percent drop in revenues during the first ten months of the year, despite occupancy levels remaining relatively static.
According to The Middle East Hotel Benchmark Survey by EY MENA, occupancy levels across Dubai stood at 73.5 percent between January and October 2019, down only slightly from an average of 74 percent during the same period last year.
However, average room rates across the period was $217, down from $254 during the same period last year. As a consequence, the average Revenue per Available Room (RevPAR) was down 15 percent to $160.
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