Dubai hotels ended last year with 83.6% occupancy
- United Arab Emirates: Wednesday, February 27 - 2013 at 02:11
Ernst & Young (E&Y) has said hotels in Dubai maintained a good performance in 2012, with an overall 83.6% occupancy rate, Gulf News has reported. The occupancy rate in December reached 81%, higher by 3% than the same month in 2011, the report said. Revenue per available room (RevPAR) climbed 10.4% year-to-date and 6.8% monthly; while average room rate rose by 7.3% year-to-date and 6.4% monthly, it said. However, Yousef Wahbah, MENA Head of Transaction Real Estate at Ernst & Young, said that occupancy rates are not expected to rise drastically "as the overall city is already experiencing high stable occupancy and more supply such as the Conrad and the second wing of the Marriott Marquis is expected to come online".
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