Abu Dhabi sees surging hotel rates
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Hotels in Abu Dhabi capitalize on increasing occupancy numbers, lifting profits by 72.9% to US$126.21 when compared to the same period last year.
These statistics were revealed by the HotStats survey of full service four and five star hotels by TRI Hospitality Consulting. Monthly performance indicators for Abu Dhabi hotels outdid last year’s figures, as tourists increased with a number.
Hotels in Abu Dhabi saw a 10.0% growth in average daily rates (ADR) to US$203.3, which, coupled with the 18.6% increase in occupancy to 80.8% resulted in 43.0% increase in Revenue per Available Room (RevPAR) to US$164.20. Conference-driven demand boosted Total Revenue per Available Room (TRevPAR) 36.4% to $323.95, growing Gross Operating Profit per Available Room (GOPPAR) 72.9% to $126.21.
Further, affordable deals and political stability helped boost tourist confidence across surveyed four and five star hotels by 7.7% to 56.8%, however a strong dependency on leisure demand keeps ADR and RevPAR figures subdued at US$40.78 and US$23.13 respectively. Increases in F&B revenues, coupled with a 52.9% increase in meeting room revenues aided a 27.3% increase in TRevPAR to US$47.93, allowing a 71.29% increase in GOPPAR to US$15.27.