Dubai hotel market
Dubai Hotels Achieve Profitability Levels Seven Times Higher Than 2019
STR | July 6, 2022
LONDON—Among key hotel markets in the Middle East, Dubai’s gross operating profit per available room (GOPPAR) came in seven times higher than the 2019 comparable, according to STR’s May 2022 P&L data release. Helped by strong international arrival numbers, as well as an earlier Ramadan, Dubai’s May GOPPAR reached US$115.37. That level was 776% of the pre-pandemic comparable. Just a month earlier during Ramadan, the market was at 79% of 2019 GOPPAR. Also reporting significant month-over-month improvement in the region, Qatar posted a May GOPPAR of US$60.87. That level was 466% of the pre-pandemic comparable afte...
STR: Expo 2020 Drove Dubai Hotel Occupancy Above 90% for the First Time Since 2007
STR | April 12, 2022
LONDON — April 12, 2022 — Driven by the final weeks of Expo 2020, Dubai’s hotel industry reported its first month of 90% or better occupancy since 2007, according to preliminary March 2022 data from STR. Occupancy: 91.7% Average daily rate (ADR): AED891.46 Revenue per available room (RevPAR): AED817.90 Like past renditions of Expo in Shanghai (2010) and Milan (2015), the end of the “mega event” proved to be the busiest for Dubai. The last time monthly occupancy in Dubai reached 90% was March 2007 when there were roughly 90,000 less rooms in the market. Additionally, the ADR level was Dubai’s second highest...
Miami and Dubai Led the World in Hotel Profit Recovery in 2021
STR | February 7, 2022
LONDON — February 7, 2022 — Miami and Dubai led the major global markets in hotel profit recovery for 2021, according to STR‘s full-year P&L data release. Miami’s gross operating profit per available room (GOPPAR) beat 2019 levels by 14 percentage points, while Dubai reached 95% of its pre-pandemic comparable. Noted below are the market outliers by each region: Europe Moscow’s GOPPAR (US$38.88) was 80% of its comparable 2019 level. Paris (US$60.00) was the next closest market at 33%. Amsterdam (US$10.53) recaptured just 10% of 2019 GOPPAR. Middle East Helped by Expo 2020, Dubai...
Dubai Hotels Surpassed 2019 Profit Level in October
STR | December 7, 2021
LONDON — December 7, 2021 — Estimated Dubai gross operating profit per available room (GOPPAR) for October 2021 came in at 159% of the 2019 comparable, according to STR‘s latest monthly P&L data release. Building on its launch in the U.S., STR now features monthly P&L data reporting in four world regions: Europe, the Middle East, Asia Pacific, and the Americas. Helped by the opening of Expo 2020 and the ICC Men’s T20 World Cup 2021, Dubai’s GOPPAR reached US$178, while total revenue per available room (TrevPAR) was US$316. Dubai’s top-line performance was also lifted during the month, as the market reported its hi...
