Helped by strong international arrival numbers, as well as an earlier Ramadan, Dubai’s May GOPPAR reached US$115.37. That level was 776% of the pre-pandemic comparable. Just a month earlier during Ramadan, the market was at 79% of 2019 GOPPAR.
Dubai welcomed 3.97 million international overnight visitors between January and March 2022, up from 1.27 million visitors for the corresponding period last year, representing a massive 214 per cent YoY visitation growth.
Like past renditions of Expo in Shanghai (2010) and Milan (2015), the end of the 'mega event' proved to be the busiest for Dubai.
Lifted by Expo 2020 and the holiday season, Dubai’s hotel industry reported its highest monthly room rates since 2015, according to preliminary December 2021 data from STR.
Estimated Dubai gross operating profit per available room (GOPPAR) for October 2021 came in at 159% of the 2019 comparable, according to STR‘s latest monthly P&L data release.
As to be expected with the boost in hotel demand, Dubai’s ADR and RevPAR during the early Expo months have been significantly higher than comparable periods in previous years. Add in the recent Cricket World Cup to the equation, and Dubai’s ADR has reached as high as AED981 on 29 October, which was a level most comparable with a typical New Year’s Eve in the market.
Lifted by the opening of Expo 2020, Dubai’s hotel industry reported its highest monthly room rates since 2018, according to preliminary October 2021 data from STR.
Each of the three key performance metrics will come in lower than the pre-pandemic comparables from August 2019: occupancy (67.9%), ADR (AED380.68) and RevPAR (AED258.52). However, Dubai has been one of the top performing global markets ahead of Expo 2020.
Absolute ADR and RevPAR were the highest in Dubai since January. Occupancy, while significantly improved from pandemic lows, came in slightly lower than March. Throughout the April Ramadan period, daily occupancy remained in the 50% range.
Hotels in Dubai, United Arab Emirates, reported occupancy fell 10% to 71% in December, according to preliminary monthly data from STR. ADR dipped 9.1% to 608.92 Emirati dirhams ($165.81) and RevPAR declined 18.2% to 432.34 dirhams ($117.72).