Dubai third highest for RevPAR in 2006
DUBAI came third in the RevPAR stakes among European and Middle Eastern markets in 2006, yielding the most revenue per available room after London and Moscow, according to data presented by professional services firm KPMG and global benchmarking provider The Bench.
London topped the survey, achieving a RevPAR of 166.63 euros, up 18.49 per cent on the previous year. This was driven by an average room rate (ARR) of 205.30 euros and occupancy of 81.7 per cent. Moscow followed closely, boasting the highest ARR at 222.53 euros and ranking second in absolute RevPAR (161.78 euros) up 15.1 per cent, while Dubai ranked third with an absolute RevPAR result of 156.03 euros, a 16 per cent increase over 2005.
Nick Pattie, director at KPMG’s travel, leisure and tourism practice said: “The continuing growth in 2006 RevPAR across all markets is impressive and has exceeded previous peak performances for some destinations. There is still headroom for further growth in many regions, especially Asia, although the slowing level of US growth may be an indicator of nearing the top of the cycle within the next couple of years. We see 2007 as maintaining a strong performance in Europe.”
Global figures for 2006 show improved performances worldwide with RevPAR growth in Europe rising 11.61 per cent; USA up 7.5 per cent and Asia Pacific increasing by a whopping 20.12 per cent.
Paris (RevPAR 152.36 euros) and Amsterdam (104.27 euros) made fourth and fifth place. Besides Dubai, no other Middle Eastern city made it to the top 15.
Besides London, all of the other 14 destinations in the top 15 occupancy chart are above 70 per cent, and only five of them are not in the UK (Dubai, Amsterdam, Rome, Dublin and Hamburg). Amsterdam was second in absolute occupancy with an average of 80.2 per cent, which, combined with an ARR of 129.96 euros, brought the city to the fifth highest RevPAR of the year at 104.27 euros.