It’s been a boom time for the hotel industry in the United Arab Emirates, as recent news items in Skift’s Daily Lodging Report have recently shown.
STR has given preliminary data on Dubai’s hotel results for December. Dubai’s hotel occupancy was lower than the pre-pandemic comparison level, but the average daily rate pushed revenue per available room, a key industry metric, above 2019 levels. STR, the benchmarking service owned by CoStar, Occupancy averaged 76.6% while average daily rate (ADR) was about $243 or 892.84 Emirati Dirhams. The occupancy was -2% below December 2019 but ADR was 33.8% and revenue per available room was 31.1% higher.
In its last report for the UAE, STR was tracking more than 200,000 existing rooms with an active pipeline of nearly 50,000 rooms, with a combined total of almost 251,000 rooms expected by 2030. Ras Al Khaimah was second only to Dubai in the size of its pipeline, which was almost the same amount as Sharjah, Abu Dhabi, and Fujairah combined. In the past, the UAE’s growth in hotel rooms has spurred demand as room supply increased, STR said.
Hotel growth in the UAE has several examples. StayWell Holdings will add its luxury brand – The Prince Akatoki, to the UAE, where it already has four hotels. The first hotel under the Park Regis brand banner, Park Regis by Prince Deira Islands, was signed in Dubai, expected to open by the second quarter of 2023.
Sunset Hospitality Group unveiled W Dubai – Mina Seyahi in November 2022. This followed recent funding from Goldman Sachs Asset Management. Both venues will mirror their Dubai-based presence.
Marriott International previously announced Delta Hotels by Marriott opened its 100th property – Delta Hotels by Marriott, Dubai Investment Park. Delta Hotels by Marriott now has two properties in Dubai and three overall in the Middle East. The new Delta Hotels by Marriott, Dubai Investment Park features 248 guest rooms and suites, an outdoor swimming pool, spa, and a fitness center. The property also includes Masian Restaurant & Bar, The Hub and a Pool Bar.
Marriott Resort Palm Jumeirah is welcoming guests. This is Marriott’s first resort in the UAE, a sprawling beachside haven geared towards leisure travelers. The family-friendly property is set on Palm West Beach and is spread over 7,000 square meters and has more than 600 guest rooms with every room and suite with at least one private balcony and views over the Arabian Gulf. While this is the first-ever Marriott resort in the UAE, it is Marriott’s 50th property in Dubai.
Dubai-based Deyaar Development said it would develop three new projects worth about US$81.7 million in Al Furjan as the UAE’s real estate sector registers record-breaking growth. The firm’s three projects will consist of residential units and hotel apartments and will include approximately 400 diverse units with one, two, and three bedrooms. The first project is Amalia Residences.
NH Collection Dubai The Palm will launch in February in the UAE. The 14-story hotel will feature 227 hotel guest rooms and 306 suites, five dining outlets including a rooftop venue and a sports bar, a rooftop pool, NH The Spa, five meeting rooms, and more. The 265-key NH Collection La Suite Hotel Dubai will offer a wide range of accommodation options including guest rooms, suites and one, two and three-bedroom apartments, an all-day dining outlet, a gym, and more. The property will be operated by Minor Hotels from Q1 next year and will undergo an extensive renovation before being launched with the NH Collection flag later in 2023.
Meanwhile, Valor Hospitality has signed a deal with the Investment Corporation of Dubai to operate 803 rooms across four hotels in Dubai, Hotel News Now reported.
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