Dubai’s hotels saw occupancy rates of nearly 60 per cent in the month of April after setting a 12-month high figure during the winter.
Occupancy rates surged to 69 per cent in December after “nosediving” to less than 25 per cent during the initial outbreak of the virus last year, according to a KPMG hospitality industry report.
The emirate’s occupancy levels are “significantly” higher than the Middle East and Africa region’s 2020 rate of 49 per cent, said KPMG.
Predictions for 2021
KPMG’s survey found that 75 per cent of hotel operators anticipate the vaccine to be effective in boosting occupancy rates. In fact, half of those surveyed expect occupancy rates above 60 per cent in FY 2021 and 75 per cent expect occupancy to return to pre-covid-19 levels by 2023.
Among operators of Dubai-based properties, half anticipate an average daily rate (ADR) of $120-150 in 2021, with an additional 25 per cent expecting $150 or higher. Consistent with the presumed occupancy rates’ timeframe, 83 per cent expect average daily rates to return to pre-Covid-19 levels in 2023.
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