Dubai's holiday home market has been growing over the past few years, and a report by Knight Frank has revealed that the city has more than 10,000 active listings on the Airbnb platform.
Dubai has 10,766 active listings out of a total of 20,395 properties which have been registered on the Airbnb platform, and the city's holiday home market accounts for 2% of Dubai's total households, the highest proportion of all other key global hub cities.
Dubai Tourism and Airbnb signed an MoU in 2016 to strengthen short term rentals, and Knight Frank's Dubai Holiday Homes Market Review 2019 report shows that the total number of listings has increased substantially in recent years, with total active listings recording a growth rate of 161% since 2016.
In addition, the data shows that the active listings account for 12.5% of the total number of hotel keys in Dubai.
In a previous interview with Hotelier Middle East, Airbnb’s general manager for Middle East and Africa, Hadi Moussa said that the company is not encroaching on the hotel market stake in the cities it operates in and instead is helping diversify the tourist offering.
The Knight Frank report stated that from late 2017 to early 2018, there has been a "divergence in achievable RevPAR in the holiday homes and hotel market" - hotel RevPAR continued to increase while holiday homes' RevPAR declined. In general, however, hotels outperform the holiday homes market with the exception of the summer months during which they are either on par or holiday homes outperform.
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