Room supply in the Middle East is starting to level out due to an increase in demand, according to managing director STR Global Elizabeth Randall.
Speaking at the Arabian Hotel Investment Conference (AHIC) in Dubai, her report highlighted reasons for hotel investors to be optimistic.
“There is more demand which indicates that new supply has been absorbed,” she said.
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“ADR is starting to lift and approach positive territory. It is the first time in 12 months we have seen this trend occur.”
Earlier at the conference opinions were split between those who believed the state of the region’s hotel industry was bullish and those who felt the outlook is negative, a view aired by hotelier Gordon Campbell Gray.
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