Dubai’s hotel occupancy reached a 15-year high last month due to Expo 2020. The hotel industry of Dubai has reported 90% occupancy in a single month for the first time after March 2007, caused by the final weeks of Expo 2020, which ended on March 31.
Expo 2020 Dubai has recorded around 24 million visits during the six-month-long event held in Dubai, which welcomed 192 countries. The mega event accelerated the recovery of the local economy after the Corona pandemic.
Additionally, besides the hospitality sector, tourism, retail, aviation and many other industries got benefited from the Expo.
A recent report that the Dubai Chamber of Commerce commissioned discovered that 76.5% of firms in Dubai said that Expo 2020 had promoted business growth, while 73.5% entered into new business partnerships.
As per STR, the occupancy level touched 91.7% in March, while average everyday prices hit Dh891.46 and revenue/available room (RevPAR) was at Dh817.9.
It further said, “Like past versions of Expo in Shanghai (2010) and Milan (2015), the end of the ‘huge event’ verified to be the most occupied for Dubai. The last time monthly occupancy in Dubai reached 90% was in March 2007 when there were around 90,000 fewer rooms in the market.”
In addition to it, the ADR level was Dubai’s second-highest of the pandemic period, behind December 2021, when it touched Dh948.56 and market RevPAR was the highest since December 2015.
The STR said, “When looking at day-to-day data, occupancy was higher than 90% for 25 days during the month with a rise of 96.0% on March 24.”
There were a total of 759 hotels and hotel facilities accounted for in Dubai in January 2022 compared to 711 last year January.
According to a Dubai Chamber’s recent report, visitor nights in January were at 3.04 million during the same month this year compared to 2.65 million in January 2021.