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FINANCIAL NEWS
Abu Dhabi hotel room rates fall by 27 percent
10 Apr 2016
(MENAFN) Hotels in Abu Dhabi dropped in Feb 2016, with year-on-year income per room dropping 37 percent, and average room rates falling 27 percent to USD 158mn.
Furthermore, Revenue per Available Room declined 30.8 percent, as Total Revenue per Available Room registered a 21.6 percent fall.
However, occupancy rates fell down to almost 78 percent in the cited month, down from 81.5 percent in the same month last year.
The drop was due to the absence of the biennial IDEX (Intl’ Defense Exhibition and Conference), which is the largest arms in the Middle East.
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