Summary and analysis of Dubai's current hospitality real estate market conditions.
Insight
Dubai Hospitality Market Dynamics, Q3 2024
Future mega developments aim to set new hospitality benchmarks and promote market growth.
Increased tourism levels support overall market performance with 2.5% and 2.7% YoY YTD growth for both ADR and RevPAR respectively.
Operators in the luxury segment continue to adjust rates and shift towards a volume-based strategy to offset drop in high spending demand.