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UAE hotels' revenues, occupancy 'likely to move lower this year'


UAE hotels revenues, occupancy likely to move lower this year
DUBAI, February 2, 2021
UAE hotels braved a tough year in 2020 and are looking to 2021 with hope following the vaccine rollout. However, increased upcoming supply amid a slow revival in demand will see revenue and occupancy levels likely move lower in 2021, according to Cavendish Maxwell, a leading property consultancy and chartered surveying firm providing services in the Middle East and Africa.
 
As expected, 2020 was a tough year for the hospitality industry in the UAE, with several hotels in shuttering on a temporary or permanent basis.
 
However, some others have used the pandemic as an opportunity to revisit and cut operating costs thereby improving margins not only for 2020 but beyond. As a result, they have successfully brought down the occupancy rate required to break-even, which is lower than the typical 40 per cent, said the expert in its Q4 2020 UAE Property Market Repo ....

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Travel, Tourism & Hospitality UAE hotels' revenues, occupancy 'likely to move lower this year'


February 2021
614
UAE hotels braved a tough year in 2020 and are looking to 2021 with hope following the vaccine rollout. However, increased upcoming supply amid a slow revival in demand will see revenue and occupancy levels likely move lower in 2021, according to Cavendish Maxwell, a leading property consultancy and chartered surveying firm providing services in the Middle East and Africa.
 
As expected, 2020 was a tough year for the hospitality industry in the UAE, with several hotels in shuttering on a temporary or permanent basis.
 
However, some others have used the pandemic as an opportunity to revisit and cut operating costs thereby improving margins not only for 2020 but beyond. As a result, they have successfully brought down the occupancy rate required to break-even, which is lower than the typical 40 per cent, said the expert in its Q4 2020 UAE Property Market Report, containing key data and trends for Dubai, Abu Dhabi and the north ....

United Arab Emirates , Abu Dhabi , Abuz Aby , Umm Al Quwain , Umm Al Qaywayn , Ash Shariqah , Ras Al Khaimah , Ras Al Khaymah , Cavendish Maxwell , Rashid Al Maktoum , Khor Al Yeefrah , Tourism Council , Bureau Veritas , Sharjah Archaeology Authority , Development Department , Disasters Committee , Tradearabia News Service , Tourism Development Authority , Middle East , Market Report , Safari Park , Palm West Beach , Palm Fountain , Palm Jumeirah , Deira Islands , Abraham Accords ,