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Published on : Wednesday, November 13, 2013
Based on STR Global daily data from October, preliminary data for the emirate includes:
• increases in supply (+7.4 percent) and demand (+6.7 percent);
• a -0.7-percent decline in occupancy to 75.3 percent;
• a +7.4-percent increase in average daily rate to AED1,096.82; and
• a +6.6-percent rise in revenue per available room to AED899.36.
“Occupancy growth for Dubai remained flat as expected due to supply outpacing demand this month. In spite of this slight in-balance, Dubai recorded the highest ADR since the economic downturn in 2008, maintaining the positive trend in 2013 for this measure”, said Elizabeth Winkle, managing director of STR Global.
STR Global will release final October 2013 results in two weeks. Revised 2013 forecasts will be available around the same time.
Source: STR Global.