Saturday 4 February 2023

Dubai hotel room inventory to hit 132,000

DUBAI, February 20, 2018

Dubai’s hospitality sector is forecast to experience strong growth over the coming years, with the emirate’s room supply set to reach 132,000 by the end of 2019, growing at a two-year (2017-2019) CAGR of 11.1 per cent.

According to a comprehensive study of the market by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism), Dubai's occupied room nights is set to reach 35.5 million annually in 2019, representing a robust 10.2 per cent compound annual growth rate (CAGR) over the next 24 months.

Meanwhile, occupancy levels are forecast to remain at an extremely healthy 76-78 per cent despite growth in capacity, maintaining the attractiveness of the sector to hotel investors and developers.

The strong competitiveness of the sector is set to continue to be fuelled by increases in Dubai’s growing international overnight visitation and targeted increases in length of stays, supported further by recent and upcoming tourism attractions and experiences.

With concerted efforts to raise awareness in both established and emerging source markets, the duration of travel from new and existing segments are expected to see further growth in the medium term, positively impacting demand for room nights, which is in turn expected to outpace visitor growth over the coming 24-48 months. - TradeArabia News Service

Tags: hotel | Dubai | Supply | room |

More Travel, Tourism & Hospitality Stories

calendarCalendar of Events