UAE registers nearly 2,500 keys open in Q3 2018

UAE registers nearly 2,500 keys open in Q3 2018
Dubai, UAE.
Published: 11 November 2018 - 2:15 a.m.
By: Shishira Sreenivas

In the third quarter of 2018, UAE registered nearly 2,500 keys open in the country with Dubai claiming more than 98% of the openings according to the MENA quarterly review released by Colliers International.

Some of the major openings during the quarter included Emerald Palace Kempinski with 389 keys, Grand Millennium in Business Bay Dubai with 251 keys, the world’s largest Hampton by Hilton near Dubai Airport with 420 keys and Al Bait Sharjah with 53 keys.

Compared to Q3 2017, the emirates showed a dip in occupancy rates across the board. Dubai’s occupancy went down by 1%, Abu Dhabi by 3%, Sharjah dipped by 8%, Ras Al Khaimah (RAK) suffered a 12% drop while Fujairah suffered a 24% dip in occupancy.

Abu Dhabi, however, saw a 5% increase in average daily rates while Dubai incurred a 9% dip compared to Q3 2017. Sharjah went down by 13%, RAK by 5% and Fujairah by 11%.

Year-to-date in August 2018, Abu Dhabi reported a 5.8% increase in inbound tourists while Dubai saw only a 0.4% growth during the same period. However both emirates will continue to visit double digit growth in Chinese visitors, the report noted.

 


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