Dubai’s hotels have seen profits soar since the opening of Expo 2020, according to new data released by industry analysts STR.
Estimated Dubai gross operating profit per available room (GOPPAR) for October came in at 159 percent of the 2019 comparable, according to STR’s latest monthly profit and loss data release.
Helped by the opening of Expo 2020 and the ICC Men’s T20 World Cup 2021, Dubai’s GOPPAR reached $178, while total revenue per available room (TrevPAR) was $316.
Dubai’s top-line performance was also lifted during the month, as the market reported its highest monthly room rates since 2018.
The other two key markets in the Middle East and Africa region, Saudi Arabia and Qatar, did not reach 2019 GOPPAR levels, but still realised strong profits.
Saudi Arabia’s October GOPPAR ($42) came in at 80 percent of October 2019 levels, while Qatar ($49) was at 79 percent using the same time comparison.
Figures released earlier this week revealed that Expo 2020 Dubai has so far seen 5,663,950 visits.
Six-in-ten visitors to the global showcase held a season pass, with repeat visits standing at 1.2 million since the event launched to the world on October 1.
Figures were boosted by the UAE’s Golden Jubilee celebrations, as well as a raft of sport, music and cultural performances.
Tourism recovery from the impact of the pandemic in Dubai has been gathering pace since reopening in the summer of 2020 and the relaunch of Concourse A at Dubai International’s Terminal 3 complex last month takes the world’s busiest international airport closer to 100 percent operational capacity.
The facility was closed 20 months ago as part of measures taken by the UAE authorities to control the spread of the Covid-19 pandemic.
Its reopening follows robust growth in passenger traffic at DXB throughout the year and a consistent surge of demand in the final quarter.
Cruise tourism in Dubai is also becoming increasingly popular and Dubai Harbour recently welcomed the arrival of its first passengers aboard the liner AIDAbella.
Dubai’s 2021-2022 season, which commenced in October, is expected to welcome 126 ship calls and over 500,000 cruise visitors, contributing further to the momentum of Dubai’s tourism recovery.
More than 150,000 passengers are forecast to visit Dubai Harbour Cruise Terminal in its first season.
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