The mega event accelerated the recovery of the local economy after the Covid-19 pandemic
Hotel occupancy in Dubai hit a 15-year high last month following Expo 2020.
Dubai’s hospitality industry reported 90% or more occupancy in any given month for the first time since 2007 in March, thanks to the final weeks of Expo 2020, which ended on March, 31st.
Expo 2020 Dubai recorded over 24 million visits during the six-month event and welcomed 192 countries. The mega event accelerated the recovery of the local economy after the Covid-19 pandemic. Besides the hospitality sector, retail, tourism, aviation and many other industries have benefited from the Expo.
A recent report commissioned by the Dubai Chamber of Commerce found that 76.5% of businesses in Dubai said Expo 2020 Dubai had boosted business growth, while 73.5% entered into new partnerships.
According to STR, occupancy reached 91.7% in March, while average daily rates reached Dh891.46 and revenue per available room (RevPAR) at Dh817.9.
“As with previous Expos 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 hit 90% was in March 2007, when there were around 90,000 fewer rooms on the market,” he said.
Moreover, the ADR level was the second highest in Dubai in the pandemic era, behind December 2021, when it reached Dh948.56, and the market’s RevPAR was the highest since December 2015.
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“Looking at daily data, occupancy was above 90% for 25 days during the month with a peak of 96.0% on March 24,” STR said.
There were 759 hotels and hotel establishments counted in Dubai in January 2022, compared to 711 in January last year.
Overnight stays in January were 3.04 million in the same month this year, up from 2.65 million in January 2021, according to a recent Dubai Chamber report.