WASHINGTON – 13 March 2024 – A series of events pushed all-time high occupancy levels in Dubai, according to February preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
February 2024 (year-over-year % change):
- Occupancy: 90.8% (+3.4%)
- Average daily rate (ADR): AED887.06 (+9.3%)
- Revenue per available room (RevPAR): AED805.21 (+13.1%)
The market’s hotel performance was helped by several events including Gulfood (19-23 February), the 2024 FIFA Beach Soccer World Cup (15-25 February), the 2024 Dubai Duty Free Tennis Championships (18 February-2 March), and Untold Dubai Festival (15-18 February).
Dubai’s highest occupancy levels were reported between 20-22 February, at 96.2%, 96.8%, and 96.5%, respectively. The market’s daily occupancy levels remained above the 80% mark throughout the entire month.
Daily ADR levels spiked on Wednesday, 21 February, at AED1,114.
For more information about the company and its products and services, please visit www.costargroup.com.
Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 81,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
