How Singapore is Building the City of the Future Sponsored This content is created collaboratively with one of our sponsors.
Dubai has also pursued a smarter mix of hotel types in order to broaden its base beyond the very high end.
Hotels in Dubai achieved their highest February occupancy rates since 2007 last month, according to new data released by STR Global.
Its preliminary February data for Dubai also indicated positive revenue per available room (RevPAR) growth.
Based on the new data, the emirate reported increases in supply (up 6.3%) and demand (up 7.1%).
Hotels in Dubai posted a 0.7% increase in occupancy to 88.6% while also registering a 10.7% increase in average daily rate (ADR) to AED1,102.78 (US $300).
Dubai hotels also reported an 11.5% rise in RevPAR to AED977.12 ($266), STR Global said, adding that it expected RevPAR to increase by 3.8% in 2014.
“Growth in demand was able to outpace the continuous growth in supply, resulting in the highest occupancy levels of any February since 2007 for the market”, said Elizabeth Winkle, managing director of STR Global.
“ADR, however, was driving double-digit RevPAR growth in this month, and rate is expected to heavily influence positive hotel performance for the remainder of the year”.
Earlier this month, it was announced that Dubai’s hotels welcomed more than 11 million guests in 2013 – an increase of just over one million on the previous year.
The Dubai Department of Tourism and Commerce Marketing (DTCM) data showed guest numbers across all hotel establishments (hotels and hotel apartments) between January and December reached 11.01 million compared to 9.96 million recorded in 2012.
Of this, Dubai’s top 10 hotel guest source markets were Saudi Arabia, India, UK, USA, Russia, Kuwait, Germany, Oman, Iran and China.