The RevPAR level was the highest since January 2015.
WASHINGTON – Helped by COP28 and New Year’s Eve, Dubai’s hotel industry reported its highest monthly average daily rate (ADR) on record, according to preliminary December data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
December 2023 (year-over-year % change):
- Occupancy: 79.2% (+3.5%)
- Average daily rate (ADR): AED1,060.61 (+19.0%)
- Revenue per available room (RevPAR): AED839.98 (+23.2%)
According to the daily data, Dubai saw its highest occupancy level on New Year’s Eve (91.4%), the only night the market surpassed the 90% mark in December. Overall, the market’s occupancy levels remained above the 70% mark throughout the month, and ADR exceeded AED1,000 during COP28 and NYE weekend.
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.
