WASHINGTON – 29 April 2024 – Dubai’s hotel occupancy and average daily rate (ADR) reached elevated levels during Ramadan and Eid al-Fitr, according to recent data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Ramadan
During Ramadan (11 March – 9 April), Dubai saw its highest daily occupancy levels on Friday, 29 March (at 78.9%), which coincided with the Easter holiday weekend. The market’s ADR levels peaked on Saturday, 30 March, at AED901.25.
“As expected, Dubai hotel occupancy dipped slightly at the beginning of Ramadan, fluctuating between 60% to 74%, with the exception of Easter weekend,” said Kostas Nikolaidis, STR’s senior account executive, Middle East & Africa. “Despite this, overall occupancy came in higher than levels seen during Ramadan 2023. Meanwhile, room rates during the Ramadan period received an added lift due to the overlapping holidays.”
Eid al-Fitr
Eid al-Fitr celebrations commenced on Wednesday, 10 April, with Dubai seeing its highest daily occupancy levels on Friday, 12 April at 92.9%. The highest ADR levels were recorded on Thursday, 11 April, at AED891.48.
“With leisure demand rebounding during Eid, occupancy levels jumped significantly compared to the Ramadan period,” Nikolaidis said. “Most countries in the region announced extended public and private sector holidays, which led to tourism demand dispersion throughout the week of Eid and drove consistent performance over a longer time period.”
A full Ramadan and Eid al-Fitr analysis can be found here.
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