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STR's preliminary November performance data for Abu Dhabi has revealed that a 2.7 percent surge in supply and 0.4 percent slight decline in demand have contributed to a 3.1 percent year-on-year decrease in occupancy which stood at 81 percent.

Despite a boost in market performance as a result of the Formula 1 Abu Dhabi Grand Prix, where average daily rate (ADR) soared above AED1,000 (USD272.25) for four straight days, overall during the month, there was an 11.1 fall in ADR compared to November 2015, down to AED660.14 (USD179.73).

Meanwhile, RevPAR plummeted 13.8 percent to AED534.97 (USD145.65).

OBT Long Stay Apartments