Lifted by the opening of Expo 2020, Dubai’s hotel industry reported its highest monthly room rates since 2018, according to preliminary October 2021 data from STR.
Hotel occupancy rates in October stood at nearly 81.6 percent, with the average daily rate (ADR) at AED776. Revenue per available room (RevPAR) during the month was AED633.
“The market’s absolute ADR and RevPAR levels were the highest for any month since January 2018 and February 2018, respectively, while the occupancy level was the highest since January 2020,” STR said in a statement.
The tourist rush has been boosted by the Dubai Expo 2020 which is expected to attract 25 million business and tourist visits to the world fair which has been built from scratch on 4.3 sq km (1.7 sq mile) of desert.
The expo site has thrown its doors open its doors to exhibitors from almost 200 countries on Friday after being delayed for a year by the pandemic. This, in turn, has lifted the fortunes of the hotel industry otherwise reeling from the pandemic over the last two years.