Hotels in Dubai suffered their worst month in July for at least the past 18 years in terms of occupancy levels.
According to preliminary data from STR Global, based on daily data, there was an 11.8 percentage point decline in occupancy to 45.4% during the month.
Meanwhile, there was a 5% increase in average daily rates to AED638.66 (US $173.87), while RevPAR declined 7.4% to AED290.23 (US $79.01).
The weak occupancy numbers were partly a result of a combination of an +8.3% increase in supply and a 4.5% fall in demand.
“Dubai reported the lowest occupancy levels of any month for the last 18 years, when STR Global began tracking hotel performance for the market,” said STR Global managing director Elizabeth Winkle.
“As July is one of the hottest months within the region and coincides with the fasting month of Ramadan, the city had an overall negative trend, on top of growing supply.”
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