Dubai Airshow and COP28 Fuel Increased Demand for Hotel Rooms

Tuesday, November 7, 2023

The Dubai hotel industry is experiencing a significant increase in occupancy ahead of the Dubai Airshow and COP28, as reported by CoStar’s Forward STAR data. CoStar, a leading provider of online real estate marketplaces, information, and analytics, indicates a surge in bookings in preparation for these events.

Dubai Airshow
Occupancy on the Airshow’s books as of October 30 was 59.1% for Thursday, November 16, and 58.3% for Wednesday, November 15. Levels for those dates at this time last year were 53.1% and 54.7%, respectively.

“As one of the most popular and prominent commercial aviation events in the world, the Dubai Airshow has always been a great demand source for Dubai hotels,” said Kostas Nikolaidis, STR’s account executive for Middle East & Africa. “There is a plethora of top-tier events on the Dubai calendar year after year, and the Airshow is no exception.”

COP28
Dubai is experiencing high hotel occupancy rates during COP28, with 44.2% on 2nd December and 43.7% on 1st December. Compared to the same period last year, these numbers were significantly lower at 29.4% and 30.8%. Kostas Nikolaidis, STR’s account executive for Middle East & Africa, attributed the high demand to COP28, UAE National Day, and other events during the winter period, with over 40% of hotel rooms already booked for the initial days of COP and New Year’s Eve.

Nikolaidis further adds, “Both events are expected to push hotel performance to new highs for the year with some hotels selling out closer to the dates. It takes skill and effort to fill a city the size of Dubai with more than 147,000 rooms. However, for yet another year, the market boasts a full calendar and a top-class Dubai experience awaiting the millions of tourists that will arrive.”

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