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FINANCIAL NEWS
Abu Dhabi’s Oct hotel occupancy soars to 82.8%
09 Dec 2011
(MENAFN) TRI Hospitality Consulting said that in October, occupancy in Abu Dhabi’s hotels surged to 82.8 percent, recording the largest rise in the region, reported Emirates 24/7.
The firm added that average room rates in the emirate continued to fall to USD156.89, with a decline of 18.6 percent compared with 2010’s same period, adding that the drop resulted in a fall in the bottom line as gross operating profit per available room (GOP PAR) went down by 8.2 percent reaching USD121.54.
On the other hand, it said that the growth trend in hotel performance in Dubai also continued into October, with the emirate registering a RevPAR growth of 13.1 percent to USD196.85.
It is worth noting that occupancy rate in Dubai’s hotels in October hiked to 87.3 percent.
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