Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Abu Dhabi’s hotel industry posted its highest ever August occupancy supported by strong demand from concerts and exhibitions, according to preliminary figures released by CoStar.
The city’s occupancy reached 79.3% in August, a year-on-year increase of 4.4%. Average daily rate (ADR) rose 10.6% to Dh482.32, while revenue per available room (RevPAR) climbed 15.4% to Dh382.25. CoStar said daily occupancy remained above 70% on all but two days of the month.
The highest daily occupancy of 90.7% was achieved on August 11, the night before Limp Bizkit performed at Etihad Arena. On the night of the show, the market posted its strongest RevPAR of the month at Dh451.77. The highest ADR of Dh505.51 was recorded on August 22.
Limp Bizkit is an American nu-metal band formed in 1990s, known for hits such as Break Stuff and Rollin’. Their concert at Etihad Arena in Abu Dhabi on August 12 drew strong crowds and helped push hotel performance to record levels.
Abu Dhabi also hosted the annual Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX), which began on August 30. On its opening night, occupancy stood at 72.8% with ADR at Dh457.68 and RevPAR at Dh333.28.
According to CoStar, alongside setting a new record for August occupancy, the market also reported its highest August ADR and RevPAR since 2008, reflecting the impact of high-profile events on the emirate’s hospitality sector and underlining the ability of Abu Dhabi to sustain tourism performance even in the peak summer period.
CoStar said its hotel performance sample now comprises more than 90,000 properties and 11.8 million rooms worldwide, providing one of the most comprehensive benchmarks for the global hospitality industry.
CoStar Group is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology.
