ABU DHABI- According to marketplace analytics firm CoStar, Abu Dhabi recorded its highest August hotel occupancy (75.9%) driven by three key events: the 2024 Abu Dhabi International Chess Festival, UFC Fight Night and the Abu Dhabi International Hunting and Equestrian Exhibition.
Abu Dhabi’s August 2024 occupancy rate reflects a year-over-year increase of 10.5%.
The firm also revealed the average daily rate (ADR) for hotel rooms also increased by 8% in August, reaching AED 434.3 (US$118.24). Average revenue per available room (RevPAR) increased by 19.3% YoY basis to AED 329.8 (US$89.8).
CoStar also revealed the city recorded its highly daily occupancy level at 83.7% and a RevPAR of AED368.16 (US$100.24) on August 14.
Although primarily driven by a robust events calendar, the metrics are a testament to the increased demand for hospitality services in the UAE.
The most significant contributor to the sector’s strong performance in August was the 2024 Abu Dhabi International Chess Festival, which was held between August 15 and 25. The event drew 2,200 participants from 82 different countries and is considered responsible for the recorded high occupancy rate.
The other event that contributed to the recorded performance was UFC Fight Night held on August 3, which CoStar reveals was responsible for the highest daily rate of AED 455.5 (US$124.02) recorded in the month.
The success of the event highlights how the combination of sports tourism and such events continues to position the city as a preferred destination for international travellers in the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector.
The third major event was the Abu Dhabi International Hunting and Equestrian Exhibition, held on August 31.
According to CoStar, the event contributed to a high occupancy rate of 72.2%. The exhibition pushed the ADR to AED 442.53 (US$120.48) and RevPAR of AED 319.39 (US$86.96).
According to the analytics firm, the Abu Dhabi International Hunting and Equestrian Exhibition marked a successful end to an event-packed month that showcased Abu Dhabi’s growing influence as a global events hub.
The results highlight the emirate’s strategic focus on leveraging major international events to drive tourism and hospitality growth, creating lasting impacts on its economic landscape.
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