Key performance indicators published by STR Global show that revenue per available room in Dubai hotels decreased 13.9% during August 2015, compared to the same period last year.
Based on Dubai’s daily data from August, STR reported:
- increases in supply (+6.0%) and demand (+4.3%);
- a 1.7% decrease in occupancy to 74.2%;
- a 12.5% decrease in average daily rate to AED587.50; and
- a 13.9% decrease in revenue per available room to AED435.66.
According to STR Global analysts, the exchange rate between the Euro and the United Arab Emirates Dirham favors outbound tourism. At the end of June, Oanda showed that exchange rate to be at its lowest since the first quarter of 2003. Oxford Economics projects the number of United Arab Emirates arrivals in Southern and Eastern Europe to grow by 8.0% for total year 2015.