“Post the pandemic, Dubai has probably been one of the fastest cities to open up in terms of trade and travel alike. This quick action was further boosted by the Expo which resulted in an increase in tourism and a subsequent increase in hotel occupancy in 2022,” explained Thomas Kurian, Hotel Manager at Leva Hotels.
“Dubai hotels ended 2022 with strong room revenue in December when occupancy hit 91 percent and the industry has managed to maintain these rates in the new year too.
“This being said, the talks of a looming inflation and subsequent recession is sure to change these dynamics as customers will become more conscious about their expenses and spending,” he added.
“Further into the year, especially post-April as we enter the warmer months, we restructure our rates based on certain source market demands and expectations of staycations and long stay.
“For now, hotels will maintain their rates up until Ramadan 2023. Outlook for Ramadan is very positive as the period is falling during the peak travel period from Europe and the extensive cultural experience planned for Ramadan in Dubai,” Kurian continued.
“We are expecting a 15% – 20% spike in occupancy rates soon after Ramadan for the long weekend. This should be driven through the staycation and GCC travel demands. This being said, a subsequent small decline in rates and occupancy during the summer is expected. However, the positive changes in travel restrictions for certain source markets like China and the traditional summer source market will keep the positive momentum.” – TradeArabia News Service
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