Despite dip, Dubai ADR leader during Q1 2016
STR reported Q1 2016 data from around the world this week and leading the pack was Dubai, United Arab Emirates, recording 2016’s highest first-quarter average daily rate among major markets around the world. This marked the 12th consecutive year that Dubai has led this group of markets in Q1 ADR when reported in U.S. dollar constant currency. Even with a 10.1% drop in year-over-year comparisons, Dubai’s ADR for Q1 2016 was US$234.88. Only three other major markets finished the quarter with ADR levels above $US200.00 in constant currency: Paris, New York City and Singapore. The European hotel industry recorded positive results in the three key performance metrics in Q1. Compared with Q1 2015, Europe reported a 0.8% increase in occupancy to 61.1%, a 2.3% rise in average daily rate to €102.98 and a 3.1% lift in revenue per available room to EUR62.94. Hotels in the Asia Pacific region also recorded mostly positive results in the three key performance metrics during Q1. Compared with Q1 2015, the region reported a 1.7% increase in occupancy to 66.6%. Average daily rate remained nearly flat (-0.2% to US$105.04). Revenue per available room rose 1.5% to US$69.93. Hotels in the Central/South America region recorded positive results in two of the three key performance metrics during Q1. Compared with Q1 2015, the Central/South America region reported a 4.6% decrease in occupancy to 55.8%. However, ADR was up 9.7% to US$96.39, and RevPAR rose 4.7% to US$53.79.