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FINANCIAL NEWS
Abu Dhabi hotel demands to grow by 1.5 percent
12 Jan 2016
(MENAFN) Room rates in the capital came under stress through last month’s holiday season as more hotels opened due to the increase of demand by 1.5 percent.
However, year-on-year there was a 2.8 percent fall in average hotel tenancy across the capital with 76 percent in Dec, even as room rates decline by 6.8 percent to USD 148.6mn.
Additionally, last month the average income available room, a key measure of a hotel’s profitability, decreased 9.4 percent yearly to USD 113.05mn.
“Average rates have dropped due to the continuing economic difficulties being experienced in the main source markets of Russia and more recently, China,” said partner at the hospitality consultancy.
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