The hotel markets in the UAE has witnessed rate contractions and a drop in occupancy levels through the first half of 2019, according to Colliers MENA hotel review for the second quarter of 2019.
In the emirate of Dubai, over 2,500 keys were opened in H1-19, with around 50% of the keys in the luxury segment.
In June, Rove, a home-grown midscale brand, has opened a 579-key property in Jebel Ali, Colliers MENA said.
Hotels in Dubai have welcomed the same number of guests at the end of June as compared to the corresponding period of 2018.
Meanwhile, hotel guests in Abu Dhabi rose marginally by 3.5% year-on-year in H1-19, the report indicated.
Dubai’s hospitality market is likely to increase by an average of 12% until fiscal year 2020 with Expo 2020 counting down.
The report also highlighted that Cvent has identified Dubai as the leading MICE destination in the Middle East and Africa region, with Abu Dhabi in the fourth spot.