COP28 and New Year’s Eve Boosted Dubai Hotel Performance in December

CoStar Group | January 15, 2024

WASHINGTON – 15 January 2024 – Helped by COP28 and New Year’s Eve, Dubai’s hotel industry reported its highest monthly average daily rate (ADR) on record, according to preliminary December data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. December 2023 (year-over-year % change): Occupancy: 79.2% (+3.5%) Average daily rate (ADR): AED1,060.61 (+19.0%) Revenue per available room (RevPAR): AED839.98 (+23.2%) The RevPAR level was the highest since January 2015. According to the daily data, Dubai saw its highest occupancy level on Ne...