Colliers International forecasts that the hotel market in Dubai will see the addition of 10,000 new hotel rooms, from September 2019 to the end of 2020, a growth rate of 12%.
The organization told Emirates Today that the attraction of the emirate's tourist destination is helping to maintain healthy demand levels in the coming period.
The total number of hotel rooms in Dubai, including hotel apartments, has reached 118,209 hotel rooms as of the end of July 2019, according to data from the Department of Tourism and Commerce Marketing in Dubai.
The attractiveness of Dubai's tourism destination and government initiatives are leading to a steady growth in the number of visitors, helping the market maintain healthy demand levels in the coming period, the consultancy said. Some 10,000 new hotel rooms will be added by the end of next year.
According to its forecast, the hotel market in Dubai will witness a 12% growth in 2020 compared to 2019, taking into account delays, the company told Emirates Today. , Along with high average hotel room rates.
Colliers International showed that the decline in average hotel room rates in Dubai was mainly due to an increase in the supply of new rooms entering service, expecting relatively stable occupancy levels in light of the growth in supply this year.
Increasing supplies in the hospitality market and its potential impact on hotel performance is a challenge for hoteliers, but as competition intensifies, it is important for enterprises to offer unique product offerings to visitors and guests.
The establishment expects hotel establishments on Sheikh Zayed Road and the Dubai International Financial Center to achieve occupancy rates of 78% during the year as a whole, with an average daily room rate of around AED 514 and a return of more than AED 400. Based on performance indicators and actual operating data from a sample hotel comprising three, four and five star properties, as well as quality hotel apartments.
For Dubai Marina and The Beach at Jumeirah Beach Residence, hotel occupancy rates are expected to reach 84% in 2019, with an average daily price of around AED 820 and a return of more than AED 691. Hotels in Palm Jumeirah are up to 78% occupancy and AED 1,460 per day, while the average return per room is expected to reach AED 1,141.
Data from the Department of Tourism and Commerce Marketing in Dubai showed that the hotel market in the emirate has seen the entry of 10,778 new hotel rooms, among 30 new facilities, since the beginning of 2018 (between January 2018 and the end of July 2019), an average of 567 hotel rooms each The total number of hotel rooms in Dubai (including hotel apartments) has risen to 118,209 by the end of July 2019.
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