The emirate welcomed more than 14m international visitors in 2022 and numbers are expected to rise this year
According to insights released by Zoom Property, hotels across Dubai are expected to hit 80% occupancy rate in 2023 with a steady increase in the average daily rate (ADR) and revenue per available room (RevPAR) as the tourism sector continues to get back on track.
The emirate achieved 73% hotel occupancy after welcoming 14.36 million international visitors in 2022, and the data indicates that international visitors to Dubai are expected to exceed pre-pandemic numbers in 2023.
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Commenting on the data, Zoom Property CEO Ata Shobeiry said: “While the occupancy level was 2% below 2019, pre-pandemic era, the high ADR and RevPAR demonstrate a strong position of the sector. ADR showed a growth of nearly 34%, while RevPAR also made a jump of a little more than 31%. I believe 2023 will follow suit and record even higher figures as Dubai continues to attract tourists from across the globe.”
Data obtained from STR shows that December 2022 saw 77% occupancy with an ADR of US$240 and RevPAR of US$186.
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A further breakdown shows that the Dubai hospitality sector produced the best figures on New Year’s Eve in 2022 as the occupancy reached 91%, while ADR and RevPAR amounted to US$480 and US$437 respectively.
The data also indicated that the UAE hospitality sector will see 48,000 new rooms by 2030, representing an industry expansion of 25% to cater to the growing number of inbound tourists.
For more information, visit www.zoomproperty.com