According to research and consulting firm STR, the hotel market in Dubai recorded a significant growth in the levels of supply and demand during last August, compared to the same month of 2018, pointing out that the new supply recorded a growth of 7.6%, while the demand for Hotel accommodation increased by 7.4%.
The company said in a report on the performance of the hospitality sector in the emirate, yesterday, that the average hotel occupancy rates reached 68.5% during August 2019, indicating that the average price of a hotel room amounted to 390 dirhams, while the return per room to about 266 dirhams.
As the market prepares to host Expo 2020 Dubai between 20 October 2020 and 10 April 2021, hotel rooms are priced competitively in a bid to stimulate demand and keep pace with the new supply of rooms, the report said. .
According to the Department of Tourism and Commerce Marketing in Dubai, the emirate received 9.58 million international visitors during the first seven months of this year, compared with 9.25 million visitors in the same period last year, a growth of 3.57%.