Preliminary data from CoStar reveals that Dubai’s hotel industry experienced its most robust September occupancy since 2016, showcasing a notable upward trend in key metrics.
In a year-over-year comparison for September 2023, occupancy surged impressively by 10.0%, reaching a substantial 77.6%. The Average Daily Rate (ADR) also saw an increase, standing at AED457.21, reflecting a growth of 2.7%. Revenue per available room (RevPAR) witnessed a remarkable spike, hitting AED354.94, marking a significant 13.5% increase.
Remarkably, alongside the high occupancy rates, ADR reached its peak for a September since 2017, indicating positive momentum in the Dubai hotel market.
Analyzing daily data, the pinnacle of occupancy levels was observed during the last three days of the month, with Friday, 29 September, leading the way at 93.1%. This surge in occupancy coincided with the UAE’s public holiday marking Prophet Muhammad’s birthday. Throughout the month, Dubai’s occupancy