Article Summary: Hotel occupancy in Abu Dhabi, United Arab Emirates, rose 5.7% to 55.2% in May, according to preliminary monthly data from STR. ADR declined 26.3% to 251.40 Emirati dirhams ($68.45) and RevPAR fell 22.1% to 138.88 dirhams ($37.82).
Hotel occupancy in Abu Dhabi, United Arab Emirates, rose 5.7% to 55.2% in May, according to preliminary monthly data from STR. ADR declined 26.3% to 251.40 Emirati dirhams ($68.45) and RevPAR fell 22.1% to 138.88 dirhams ($37.82).
Primary Category: Other Reports
LONDON—Abu Dhabi’s hotel industry reported improved but still relatively low performance levels, according to preliminary May data from STR.
Compared with May 2019:
• Occupancy: +5.7% to 55.2%
• Average daily rate (ADR): -26.3% to AED251.40
• Revenue per available room (RevPAR): -22.1% to AED138.88
The 55.2% occupancy level was up from April 2020 (47.3%) and represented the market’s first year-over-year increase in the metric since November 2019. STR analysts note, however, that May was the market’s lowest occupancy month in 2019, which created a low comparison base.
ADR and RevPAR were also up from April 2020, which was the month the market was most affected by restrictions around the COVID-19 pandemic.
All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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Headline: STR: Preliminary May data for Abu Dhabi hotels
Article Date: 6/11/2020
Article Time: 9:59:00 AM