How many more hotel rooms can the Gulf take?

This article was written by Hospitality Today. Click here to read the original article

How much is enough? When will it stop? Even the cleverest forecasters have got it wrong

Aug 2, 2024

So far in 2024, performance by hotels in both Dubai and Abu Dhabi has continued to grow on the back of increased demand, outpacing many regional and global destinations.

Key takeaways

• Dubai hotels operate on higher overall performance levels, mostly driven by their higher average daily rates, which exceeded $270 in the high season;
• However, Abu Dhabi is catching up. Occupancy in the emirate has grown by 10 percent year on year while room rates have risen by 13 percent;
• Dubai, a much bigger destination with more rooms, has mostly been able to drive hotel rate growth at 5 percent, with occupancy increasing by 1 percent so far in 2024.

Get the full story at PKF Hospitality