Abu Dhabi hotel occupancy reached August high

Abu Dhabi experienced a notable surge in hotel performance in August 2024, largely attributed to three key events: the Abu Dhabi International Chess Festival, UFC Fight Night, and the Abu Dhabi International Hunting and Equestrian Exhibition. These events propelled the city’s hotel occupancy to its highest level for August in recorded history, according to CoStar, a leading real estate data provider.

In August 2024, Abu Dhabi’s hotel occupancy rate reached 75.9%, reflecting a year-over-year increase of 10.5%. The average daily rate (ADR) for hotel rooms rose by 8.0%, reaching AED 434.30, while revenue per available room (RevPAR) saw a significant 19.3% rise to AED 329.80. These metrics underscore the growing demand for hospitality services in the emirate, driven by a robust events calendar.

The 2024 Abu Dhabi International Chess Festival, held from August 15-25, played a significant role in these figures. The event, which drew over 2,200 participants from 82 countries, saw the highest daily occupancy rate of 83.7% on August 14, coinciding with the festival’s opening day. The festival attracted not only top-tier chess players but also enthusiasts, contributing to the spike in hotel stays during this period. Moreover, the revenue per available room (RevPAR) peaked at AED 368.16 during the chess festival, highlighting the importance of such international events for the hospitality industry.

Another event that bolstered the market was UFC Fight Night on August 3, which led to the highest average daily rate of AED 455.49 for the month. The combination of sports tourism and high-profile events continues to position Abu Dhabi as a leading destination for international travelers, particularly in the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector.

The month closed with the Abu Dhabi International Hunting and Equestrian Exhibition on August 31, which contributed to a strong occupancy rate of 72.2%. With the exhibition also pushing ADR to AED 442.53 and RevPAR to AED 319.39, it marked a successful end to an event-packed month that showcased Abu Dhabi’s growing influence as a global events hub.

These 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.

The article Abu Dhabi hotel occupancy reached August high first appeared in TravelDailyNews International.