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.
All of STR’s COVID-19 analysis can be found here.