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FINANCIAL NEWS
Occupancy at Dubai hotels down to 78.8% in May
06 Jul 2012
(MENAFN) TRI Hospitality Consulting revealed in its latest HotStats survey that occupancy at Dubai hotels fell to 78.8 percent in May from 86.5 percent in April, reported Emirates 24/7.
The survey attributed the decline to an increase in rents, which reached to a record high of USD359.28 per room in April.
The drop in hotel occupancy levels reduced average room rate (ARR) to USD247.93 in May, with a decline of more than 31 percent.
However, Dubai’s hotels profitability jumped by 12.4 percent in May from a year earlier in spite of the decline in occupancy rate, while the gross operating profit per available room (GOP PAR) stood at USD145.93.
It is worth noting that in May, Dubai’s full-service hotels posted a 9.7-percent gain in total revenue per available room from the previous year to USD372.
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