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Dubai Dubai

Dubai: Supply Growth Outpaces Demand

Hoteliers in Dubai came under pressure in October as room supply grew 5.7 percent, while demand remained flat, having only improved 3.4 percent year-on-year.

As STR Global’s statistics revealed, this slowdown in arrivals, mainly attributed to the shift of Eid Al Adha holidays, resulted in a 2.2 percent drop in occupancy to 79.9 percent.

Consequently, average daily rate plummeted 12.9 percent to AED883.06 (USD240.4), and RevPAR decreased 14.8 percent to AED705.44 (USD192.1).

OBT Long Stay Apartments