UAE hospitality sector reports strong...

CBRE report shows growth in room rates and RevPAR

Hotel room rates in the UAE have increased by 5.6% in the first three months of 2024, according to the latest report from CBRE Middle East.

The increase led to a 6.8% rise in revenue per available room (RevRAR) as the UAE hospitality sector exceeded pre-pandemic levels.

The latest figures equate to a 24.% increase in Average Daily Rates (ADR) and a 25.2% change in RevPAR, when compared to the first quarter of 2019.

In the first three months of the year, the total number of hotel guests in Abu Dhabi stood at 1.3 million, 22% more than the equivalent period last year and 16.1% up on 2019.

In Dubai, the total number of international visitors in quarter one of 2024 stood at 5.18 million, marking a year-on-year increase of 10.9% and a 9.1% increase from the 2019 level.

CBRE head of research Taimur Khan said: “The UAE’s key performance indicators continue to showcase resilient performance in the first quarter of the year, largely supported by the elevated visitation levels.

“Over the remainder of the year, we expect visitation will see a marked increase owing to several events, which are expected to continue to drive occupancy and rates to record levels.”

For more information, visit www.cbre.ae

UNLOCK A FUTURE OF UNLIMITED EARNINGS
BY STARTING YOUR OWN HOME-BASED TRAVEL BUSINESS TODAY