Strong performance by Dubai hotels: HotStats
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The recent hotel performance report for December 2012 showed that Dubai hotels finished the year with profits for the third consecutive year, according to HotStats survey by TRI Hospitality Consulting.
The survey, which measured the performance of full service hotels in seven MENA cities, showed that Dubai hotels had a 13.8% rise in Gross Operating Profits per Available Room (GOPPAR) to US$240.46.
“Bottom line performance levels were boosted by a 5.2% growth in Total Revenue per Available Room (TRevPAR) and a 4.9% reduction in operating expenses. Occupancy levels remained stable at a 0.8% increase to 84.6%, with Average Room Rates (ARR) rising 3.6% to US$322.93,” said the survey.
Over the last year, Dubai hotels recorded an 8.1% jump in RevPAR (US$238.48), a 6.8% rise in ARR (US$292.99), and a 1.1% increase in occupancy (81.4%).
“Hotels in Abu Dhabi failed to capitalise on record guest arrivals as hotels continue to struggle with falling rates which have slashed bottom line performance by 18.1% in comparison with 2011 figures,” noted Goddard.