A series of world-class events have pushed occupancy levels in Dubai hotels to an all-time high, a new report said.

According to February preliminary data from CoStar, a leading provider of online real estate marketplaces, information, and analytics in the property markets, occupancy reached 90.8% (+3.4%).

While average daily rate (ADR) topped AED887.06 ($241) (+9.3%), revenue per available room (RevPAR) stood at AED805.21 (+13.1%). Daily ADR levels spiked on 21 February to at AED1,114.

The market’s hotel performance was helped by several events including Gulfood (February 19-23), the 2024 FIFA Beach Soccer World Cup (February 15-25), the 2024 Dubai Duty Free Tennis Championships (February 18-March 2), and Untold Dubai Festival (February 15-18).

Dubai’s highest occupancy levels were reported between 20-22 February, at 96.2%, 96.8%, and 96.5%, respectively. The market’s daily occupancy levels remained above the 80% mark throughout the entire month. – TradeArabia News Service