Oversupply causing Dubai hotel rates to fall |
Average hotel room rates in Dubai continued to fall in January due to growing hotel room supply, according to a new report from HotStats.
Average room rates (ARR) in Dubai fell 9.3% year-on-year in January 2016, compared to a 6.7% drop in 2015, and occupancy declined to 86.7% from 87% in January 2015, the research firm revealed.
As a result, revenue per available room (RevPAR) fell by 9.7% for the month to US $271.10 (AED 994.94).
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