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FINANCIAL NEWS
Hotel room supply in Dubai up 8.2 percent
05 May 2014
(MENAFN) According to a report by real-estate consultancy JLL, Dubai’s hotel room supply id projected to grow 7.9 percent at an annual compound growth rate (CAGR) between 2014 and 2017, Gulf News reported.
The total room supply in the emirate is forecasted to increase by 8.2 percent in 2014 and by 5.1 percent in 2015, JLL stated in the Hotel Intelligence Dubai report.
In 2013, Dubai welcomed more that 11 million guests, which is up by 10.6 percent over 2012. Year-end inflation-adjusted revenue per available room grew by 10.1 percent, JJL’s report added.
“The emirate’s rapid growth is expected to continue, helped in part by major infrastructure and development projects, including airport improvement and expansion, the tram system, Dubai Pearl and completion of the Trade Centre District project,” JLL report said.
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