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FINANCIAL NEWS
Abu Dhabi hotels post 31.6% fall in Feb RevPAR
11 Apr 2012
(MENAFN) TRI Hospitality Consulting said that in February, revenue per available room (RevPAR) for Abu Dhabi hotels dropped 31.6 percent from 2011’s same period to USD132.39, reported Gulf News.
TRI added that in the period, occupancy slipped 3.0 percentage points to 76.2 percent, whereas average room rates (ARR) fell 28.8 percent to USD173.85.
It also said that Goppar (total gross operating profit for the period divided by the total available rooms during the period) plunged 35.3 percent in February from a year earlier.
It is worth noting that the drop in performance was mainly attributed to an influx of supply over the last 2-3 years, as growth in supply exceeded the growth in demand, according to TRI.
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