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FINANCIAL NEWS
Dubai hotels to post double-digit growth in revenue, occupancy
23 Aug 2015
(MENAFN) According to data released by STA Global, Dubai hotels are set to post double-digit increased in occupancy and revenue per available room (RevPAR) in July.
The emirate’s hotels will report a significance performance growth year-on-year, although the year-earlier figures were impacted by the fall of Ramadan, daily data from July showed.
Dubai reported increases in supply, which increased 4.8 percent, and demand, which went up 32.1 percent, with occupancy set to soar by 26.1 percent to 57.6 percent.
“The Middle East is kind of a shut shop when Ramadan is taking place, and you see the impact of Ramadan in deep dips,” director of account management for STR Global said.
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