Staff Report,
Dubai, UAE
With the United Nations Climate Change Conference 2023 (COP28) and year-end festivities just around the corner, Dubai is ready to house visitors from all over the world. The third quarter of 2023 saw the delivery of 400 keys, bringing the total hotel stock to 152,000 keys. Based on the latest real estate market report by Jones Lang LaSelle (JLL), a global real estate services company, an additional 6,000 keys are expected to be added in Dubai by the end of 2023. According to Dubai Department of Economy and Tourism, the emirate welcomed 9.83 million visitors between January and July 2023. On a year-on-year basis, hotel occupancy increased to 76 percent in H1 2023, surpassing the pre-pandemic record of 74 percent.
The upcoming COP28 that will be held at the Expo City, Dubai from November 30 to December 12 will act as a major impetus for maximum hotel occupancy. Over 70,000 delegates, including heads of state and world leaders from 198 countries, the European Union and thousands of non-government organisations, companies, youth groups, and other stakeholders will gather at the world’s largest climate change conference.
Paul Bridger, chief operating officer of Rove Hotels, said, “Rove Expo 2020, the only hotel inside the COP28 site, is fully booked. Additionally, Rove At The Park and Rove Dubai Marina, our closest properties to the event, are already over 50 per cent, with occupancy levels growing rapidly.”
Additionally, Dubai prepares to welcome most of the tourists during winter. With a plethora of vacation and staycation options, hotel occupancy is expected to increase significantly, especially in the holiday period, including the UAE National Day on 2nd December, followed by Christmas and New Year celebrations.
James Britchford, VP Commercial, IMEA, IHG Hotels & Resorts, said, “Considering the popularity of the winter season amongst tourists visiting the UAE, we expect high occupancy levels near 90% during this time.”
Dubai is expected to break records in terms of both hotel occupancy and visitor count since COP28 will be crucial in underpinning the robust hospitality sector.
Ends
