The UAE has achieved the top global ranking in terms of the average hotel occupancy rate, exceeding 84.6%, according to data from the specialized hotel research and consultancy firm STR (Smith Travel Research).
The STR report states that the high hotel occupancy rates in the UAE were driven by the strong performance of the leisure and business tourism sectors. The UAE market recorded the world’s highest hotel occupancy rate in the week starting from October 15th last year. It also saw significant year-on-year growth of 10%, compared to the same period in the previous year, and an 11.1% growth compared to the previous week in October of this year.
South Korea ranked second after the UAE, with an occupancy rate of 83.1%, showing a 6.7% year-on-year growth. Ireland followed with an 82.6% occupancy rate and 2.9% year-on-year growth, and then Chile with a 73.1% occupancy rate, showing an 11% year-on-year growth.
The global occupancy rate, excluding the United States, increased to 71.3%, marking a 2.3% year-on-year increase and a 7.6% increase compared to the previous year. The average hotel room rate also rose by 9.4% year-on-year, and the revenue per available room increased by 22.5% year-on-year, reaching $102.
The total number of hotel guests in the UAE reached 16 million guests during the first seven months of 2023, showing a 15% growth compared to the same period in 2022, with a total of 56 million hotel room nights.
As of the end of July, the total number of hotel facilities in the UAE reached 1,224. The hotel occupancy rate reached 75% during the first seven months of 2023, with a 5% growth compared to the same period in 2022.