STR Global’s latest forecast reports anticipate an 11-percent RevPAR growth for year-end 2013 after strong years in 2011 and 2012.
LONDON -STR Global’s preliminary August data indicates good growth in all three performance measures for the emirate. STR Global’s latest forecast reports anticipate an 11-percent RevPAR growth for year-end 2013 after strong years in 2011 and 2012.
Based on STR Global daily data from August, preliminary data for Dubai includes:
- increases in supply (5.81 percent) and demand (30.4 percent);
- a 23.3-percent jump in occupancy to 72.6 percent;
- a 8.7-percent increase in average daily rate to AED753.16; and
- a 34.0-percent rise in revenue per available room to AED546.61.
“Dubai’s hotel performance in August 2013 witnessed a jump compared to last year, which was mainly due to Ramadan that shifted business to the month of August”, said Elizabeth Winkle, managing director of STR Global. “The sharp rise in demand offset the continuing growth of new supply”.
“STR Global’s latest forecast reports anticipate an 11-percent RevPAR growth for year-end 2013 after strong years in 2011 and 2012”, said Naureen Ahmed, manager, marketing and analysis at STR Global. “Dubai could benefit substantially from the Arab Spring, preserving its reputation as a safe destination to visit. Dubai has seen occupancy rates above 80 percent for the first five months of the year and demand will continue to outpace the growth of supply, solidifying its place as a desirable destination”.
STR Global will release final month-end August 2013 results in two weeks. Revised 2013 forecasts will be available in November.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
