A mix of events helped boost Abu Dhabi’s hotel performance in January, according to preliminary data from CoStar, a provider of real estate marketplaces and analytics.
The city recorded an
average occupancy of 85.2%, slightly down 0.5% year-over-year, while the
average daily rate (ADR) rose 10.4% to AED 846.34 ($230.45).
Revenue per available
room (RevPAR) also increased 9.9%, reaching AED 720.98, reflecting strong
demand and higher room rates during the month.
The ADR and RevPAR levels were the highest
for a January in Abu Dhabi since 2010 and 2009, respectively. Each metric
peaked on New Year’s Day with ADR at AED 1,277.59 and RevPAR at AED 1,075.04.
The market’s occupancy peaked at 95.5% on
Wednesday, 28 January–the first night of the WCO Technology Conference &
Exhibition, which overlapped with the 27th Annual IBA Arbitration Day.
Abu Dhabi also hosted the World Energy
Summit, which pushed occupancy to 94.6% on 13 January, with a lift in ADR to
AED931.21.
January performance was also supported by several concerts, including shows by Ludovico Einaudi, Lewis Capaldi, Ricky Martin, and Linkin Park. Occupancy eclipsed 80% on all but six nights during the month. -TradeArabia News Service
