It confirmed that the country is one of the most successful hotel markets in the world
STR: 250 new hotels in the UAE market within 7 years
Hotel supply increased to 187,000 rooms in 2021. Archival
The STR Foundation, which specializes in hotel research, confirmed that hotel establishments operating in Dubai have performed well throughout the period of the "Covid-19" pandemic, while the market is preparing to record growth in both occupancy rates and average prices, in light of demand factors. Different.
"The hotel market in Dubai has recorded a steady increase in occupancy rates since the start of the pandemic on a weekly basis, from 20% to about 80% on December 31, 2020," said Philip Waller, director at the Foundation for the Middle East and Africa.
He expected that over the next five to seven years, the UAE would witness the opening of 250 new hotels, with a total capacity of 75,000 hotel rooms, according to the latest data of the institution.
Waller added, during his participation in a recent conference on hotel sector data, that "room rates in some hotels in the emirate are still recording strong levels, especially at the weekend," stressing that optimism is increasing in Dubai, and 2021 may see some return to Growth in both occupancy and, to a lesser extent, in hotel room rate.
He added that the exhibition «Expo 2020 Dubai», which will start in October 2021, is one of the most prominent drivers of future demand, pointing out that the UAE market has successfully managed to absorb a significant increase in the new hotel supply over the past decade and keep pace with demand.
"The UAE market is a great example of a successful, balanced and highly developed destination," he said.
He added that "the demand for hotel rooms in the UAE market decreased by 32% in 2020, but it remained better than the global average, which is by 39%."
He pointed out that at a time when the hotel supply increased from about 94 thousand hotel rooms in 2009 to 187 thousand rooms in 2021, the UAE is still emerging as one of the most successful hotel markets in the world.
hotel facilities in Dubai has
good performance throughout the
period of the
Follow our latest local and sports news, and the latest political and economic developments via Google news