Driven by the final weeks of Expo 2020, Dubai’s hotel industry reported its first month of 90% or better occupancy since 2007, according to preliminary March 2022 data from STR.
Hotel occupancy rates hit 91.7% in the emirate with average daily rate (ADR) reaching AED891.46 (US$242.71) and RevPAR AED817.90.
Like past renditions of Expo in Shanghai (2010) and Milan (2015), the final weeks of the mega event proved to be the busiest for Dubai. The last time monthly occupancy in Dubai reached 90% was March 2007 when there were roughly 90,000 less rooms in the market. Additionally, the ADR level was Dubai’s second highest of the pandemic-era, behind December 2021 (AED948.56), and market RevPAR was the highest since December 2015.
When looking at daily data, occupancy was higher than 90% for 25 days during the month with a peak of 96% on 24 March.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, a provider of commercial real estate information, analytics and online marketplaces. More information, visit str.com and costargroup.com.
