The average daily price rises 20% to 963 dirhams
Holiday homes in Dubai will record the highest occupancy rate ever in 2021
Dubai is a popular tourist destination with its global standing.
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Fathi Khojaly: "Strong bookings over the coming months, and continuous growth rates month after month in the movement of international visitors."
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The Department of Economy and Tourism in Dubai revealed that the number of "vacation homes" units in the emirate rose from 1,641 units in 2015, when the new system was launched, to 13,722 units at the end of 2021, with a growth rate of 736% over seven years.
Occupancy rate
The department stated in an annual report on the performance of the tourism sector in the emirate, which "Emirates Today" obtained a copy of, that the occupancy rate of "vacation homes" units increased from 49% in 2015 to 59% in 2021, despite the significant increase in the number of vacation homes. Units that entered service.
She noted that the holiday home sector recorded an exceptional performance in 2021, as the occupancy rate at the city level reached an all-time high.
She added that the average daily price of "vacation homes" was also the highest ever, reaching 963.10 dirhams, up from 801.30 dirhams in 2020, with a growth rate of more than 20%.
The department pointed out that the rapid growth of the "vacation home" rental market in Dubai highlights the changing market dynamics.
Accommodation options
She added that the new and "under construction" hotel projects highlight the efforts made to diversify accommodation options in the Dubai hotel market, noting Dubai's long-standing recognition among the world's best luxury travel destinations, and the concerted efforts to enhance and expand its attractiveness to new categories of visitors.
She explained that the options of "vacation homes", serviced apartments, as well as budget hotels, medium and luxury, constitute a wide range of accommodation options designed to suit all tastes and budgets of visitors to Dubai.
great flexibility
"The hotel market in Dubai is characterized by great flexibility and offers many accommodation options," said Fathi Khojaly, the regional director of Hyatt Hotels Group in Dubai and general manager of the Grand Hyatt.
He stressed that the "holiday homes" and hotel apartments in the emirate contributed to the increase in the number of hotel nights that visitors spend during their holidays in the emirate.
He added to "Emirates Today" that "the diversity of accommodation options increases the attractiveness of the hotel market in front of different segments of visitors, ranging from luxury to medium and small hotels, as well as apartments and holiday homes units."
He pointed out that a part of Dubai's family visitors prefer hotel apartments or "vacation homes", noting that the hotel market in Dubai has witnessed significant growth over the past years, despite that, we have witnessed continuous growth in demand.
Khojaly stressed that Dubai is a famous tourist destination with its global standing, attracting millions of visitors annually, and has achieved strong performance levels in light of the “Covid-19” pandemic, noting that expectations indicate strong reservations during the coming months, at a time when the movement of international visitors is witnessing a record high. Continuous growth rates month after month.
Vacation Homes
“Holiday homes” are furnished real estate units that are allocated in accordance with the stipulated conditions and standards, with the aim of practicing the activity of the rental service, or renting them with the intention of renting them back to guests, on a regular and continuous basis.
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