STR: The profitability of Dubai hotels exceeds 2019 levels
The STR Corporation, which specializes in research and hotel consultancy, stated that the hotel market in Dubai achieved strong performance levels last October, after the profitability rate recorded in the emirate's hotels exceeded the levels of October of the year 2019.
In a report obtained by Emirates Today, the Foundation stated that the estimated total operating profit for each room available in Dubai during October 2021 recorded a significant growth of about 159 percent compared to the levels of the same month in 2019.
She explained that the estimated average operating profit for each available room in Dubai amounted to $178 (about AED 653) during October, supported by high levels of demand with the hosting of the Expo 2020 events, in addition to the sports tournaments that the emirate witnessed in October.
The Foundation added that the revenues per available room, in turn, amounted to 316 dollars (about 1160 dirhams) during October, as the hotel market in Dubai recorded the highest prices for hotel rooms on a monthly basis since 2018.
And the corporation, in its recent monthly report, stated that the levels of the average price of a hotel room and the return on available room in Dubai were the highest since January 2018 and February 2018, respectively, while the occupancy level was the highest since January 2020.
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