Positive outlook for Dubai hotel revenues and occupancy
Hotel revenues in Dubai are expected to continue growing this year as the emirate increases its global appeal as a tourism hotspot, Jones Lang LaSalle said in a new report on Sunday.
Its 2014 Hotel Intelligence Report said Dubai has retained its status as the best performer among major markets in the Middle East when looking at overall hotel performance.
JLL said it expected revenue per available room (RevPAR) to continue growing in the resort areas and central business district (CBD), with Deira and emerging districts moving towards stabilisation, with slower year-on-year growth.
City-wide occupancy is expected to increase slightly in the short-term, with the 80 percent occupancy in 2013 showing growth from the 2012 year-end 78 percent occupancy, the report said.
New 4-star and 5-star projects are expected to increase competition in the upscale and upper-upscale segments.