Abu Dhabi hotel occupancy up for F1 2011 over 2010

 Hotel occupancy performance in Abu Dhabi following the Formula 1 Grand Prix that took place last weekend (November 11-13) was up compared to 2010, but remained lower than the first race weekend in 2009 according to STR Global.

Abu Dhabi hotel occupancy achieved a low 84.9% on Friday night compared to 92% during the first race in 2009.

However, both Saturday and Sunday nights achieved a strong recovery with occupancy levels reaching 94.3 and 92% respectively.

STR Global attributed the lower 2011 performance to the addition of new hotel supply closer to the race track on Yas Island since the initial race in 2009.

This also resulted in lower average daily rates than achieved over previous race weekends, said the company.

Hotels recorded ADR of AED 1605.22 on the Friday night before reaching AED 1754.14 on Saturday.

“Since the introduction of the Grand Prix in Abu Dhabi in 2009, the census data from STR Global, tracking the city-wide hotel inventory, has indicated that hotel supply grew by 16% to 15,115 daily rooms” commented Konstanze Auernheimer, Director of Marketing & Analysis.

"With additional hotels expected to enter the market in the near future, it will likely remain a competitive market environment for hoteliers. However, the Grand Prix provides a unique exposure of the Emirate to a global audience and hoteliers should see long-term benefits from the attention given to the Formula One race."