Dubai Hotel Revenues Reach 2.3 Billion Dirhams in January 2023
Tourism sector in the emirate exceeds last year's performance across all key metrics.
In January 2023, hotel revenues in Dubai increased by 11.6% to reach 2.3 billion dirhams, up from 2.06 billion dirhams in the same period in 2024, according to data from the Department of Economy and Tourism.
The total number of hotel nights booked reached 4.01 million, with the average revenue per available room (RevPAR) rising to 576 dirhams.
The significant increase in revenue was supported by an 8% rise in average room rates during January, reaching 576 dirhams, compared to 535 dirhams in January 2024. Additionally, the number of hotel nights booked increased by 4% to 4.01 million nights from 3.84 million nights in January of the previous year.
Data from the Department of Economy and Tourism in Dubai confirms that the tourism sector has successfully surpassed last year's levels across all performance indicators, including the number of hotel rooms, booked nights, average daily rates, RevPAR, and hotel occupancy rates.
Furthermore, tourist inflows from various markets increased by 9% compared to January 2024.
Hotel revenues in Dubai have reached record levels in recent months, establishing the emirate among the leading global markets.
The competitive landscape among hotel groups has intensified, as they actively seek to enhance their presence and increase their market share in response to the growing tourist inflows from multiple markets.
In a related development, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the Deputy Ruler of Dubai, recently convened with Prince Maximilian Nicholas, the Chairman of Lichtenstein Global Trust, one of the world’s largest asset management and investment firms, to discuss collaboration opportunities.
The meeting took place at Sheikh Maktoum's office in Nad Al Sheba.
During the meeting, they reviewed the group's activities in the Middle East, based in the UAE and its offices in the Dubai International Financial Centre (DIFC).
Sheikh Maktoum emphasized the UAE's commitment to enhancing cooperation with global financial institutions, aligning with the leadership's vision to accelerate the growth of the financial sector and expand investment opportunities.
The discussion highlighted the various incentives Dubai offers as a leading global financial center, including a dynamic business environment, world-class infrastructure, and flexible regulations supporting sustainable business growth, positioning Dubai as an ideal base for financial firms looking to capitalize on emerging opportunities in the region and beyond.
The meeting was attended by several dignitaries, including Mohammed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Helal Saeed Almarri, Director General of the Department of Economy and Tourism in Dubai; Essa Kazim, Governor of the DIFC; and Hisham Abdullah Al Qasim, Vice Chairman and Managing Director of Emirates NBD Group.
Lichtenstein Global Trust, established in 1921 in the Principality of Liechtenstein, manages an estimated 356 billion Swiss francs (over 404 billion dollars) in assets as of June 2024, operating across 30 locations globally with a workforce exceeding 5,800 employees.
In aviation news, Emirates Airlines announced that regular flights are available for booking starting from July, covering all destinations within its global network.
Additionally, Flydubai has made its regular flights available from June 5, allowing customers to book flights in both directions to various destinations.
Emirates Airlines previously resumed passenger services to nine destinations beginning May 21, 2020, which included major cities such as London Heathrow and New York City.
Meanwhile, Flydubai added new routes to its list, allowing residents and visitors currently in the UAE to return to their home countries, furthering its commitment to facilitating travel amid changing global conditions.
The total number of hotel nights booked reached 4.01 million, with the average revenue per available room (RevPAR) rising to 576 dirhams.
The significant increase in revenue was supported by an 8% rise in average room rates during January, reaching 576 dirhams, compared to 535 dirhams in January 2024. Additionally, the number of hotel nights booked increased by 4% to 4.01 million nights from 3.84 million nights in January of the previous year.
Data from the Department of Economy and Tourism in Dubai confirms that the tourism sector has successfully surpassed last year's levels across all performance indicators, including the number of hotel rooms, booked nights, average daily rates, RevPAR, and hotel occupancy rates.
Furthermore, tourist inflows from various markets increased by 9% compared to January 2024.
Hotel revenues in Dubai have reached record levels in recent months, establishing the emirate among the leading global markets.
The competitive landscape among hotel groups has intensified, as they actively seek to enhance their presence and increase their market share in response to the growing tourist inflows from multiple markets.
In a related development, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the Deputy Ruler of Dubai, recently convened with Prince Maximilian Nicholas, the Chairman of Lichtenstein Global Trust, one of the world’s largest asset management and investment firms, to discuss collaboration opportunities.
The meeting took place at Sheikh Maktoum's office in Nad Al Sheba.
During the meeting, they reviewed the group's activities in the Middle East, based in the UAE and its offices in the Dubai International Financial Centre (DIFC).
Sheikh Maktoum emphasized the UAE's commitment to enhancing cooperation with global financial institutions, aligning with the leadership's vision to accelerate the growth of the financial sector and expand investment opportunities.
The discussion highlighted the various incentives Dubai offers as a leading global financial center, including a dynamic business environment, world-class infrastructure, and flexible regulations supporting sustainable business growth, positioning Dubai as an ideal base for financial firms looking to capitalize on emerging opportunities in the region and beyond.
The meeting was attended by several dignitaries, including Mohammed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Helal Saeed Almarri, Director General of the Department of Economy and Tourism in Dubai; Essa Kazim, Governor of the DIFC; and Hisham Abdullah Al Qasim, Vice Chairman and Managing Director of Emirates NBD Group.
Lichtenstein Global Trust, established in 1921 in the Principality of Liechtenstein, manages an estimated 356 billion Swiss francs (over 404 billion dollars) in assets as of June 2024, operating across 30 locations globally with a workforce exceeding 5,800 employees.
In aviation news, Emirates Airlines announced that regular flights are available for booking starting from July, covering all destinations within its global network.
Additionally, Flydubai has made its regular flights available from June 5, allowing customers to book flights in both directions to various destinations.
Emirates Airlines previously resumed passenger services to nine destinations beginning May 21, 2020, which included major cities such as London Heathrow and New York City.
Meanwhile, Flydubai added new routes to its list, allowing residents and visitors currently in the UAE to return to their home countries, furthering its commitment to facilitating travel amid changing global conditions.
