Expo 2020 drove Dubai hotel occupancy above 90% for the first time since 2007.
Driven by the final weeks of Expo 2020, Dubai’s hotel industry reported its first month of 90% or better occupancy since 2007, according to preliminary March 2022 data from STR.
- Occupancy: 91.7%
- Average daily rate (ADR): AED891.46
- Revenue per available room (RevPAR): AED817.90
Like past renditions of Expo in Shanghai (2010) and Milan (2015), the end of the “mega event” proved to be the busiest for Dubai.
The last time monthly occupancy in Dubai reached 90% was March 2007 when there were roughly 90,000 less rooms in the market.
Additionally, the ADR level was Dubai’s second highest of the pandemic-era, behind December 2021 (AED948.56), and market RevPAR was the highest since December 2015.
When looking at daily data, occupancy was higher than 90% for 25 days during the month with a peak of 96.0% on 24 March.
Berlin hotel performance improved in March
Berlin’s hotel industry reported month-over-month performance improvement, according to preliminary March 2022 data from STR.
- Occupancy: 51.3%
- Average daily rate (ADR): EUR84.98
- Revenue per available room (RevPAR): EUR43.57
The occupancy and RevPAR levels were the highest in the market since November 2021.
These levels were still 30% and 40% below the pre-pandemic comparables from 2019, respectively.
Daily data shows that Berlin’s weekday and weekend performance is more aligned, pointing to increased business demand during the weekdays.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit www.str.com
