JLL: Dubai hotel ADR likely to slip through late 2015.
Jones Lang LaSalle IP Inc. noted in its Dubai Real Estate Market Overview for 1Q15 that, although the hotel vacancy rate has slipped by only 2pp to 86% y-o-y, ADR was were 5% lower at USD273. JLL thinks that the 3,600 new rooms that will become available over the remainder of 2015 will keep ADR under downwards pressure. The total number of rooms has grown from 57,000 to 64,900 over the last three years. Over 24,000 new rooms are expected to become available in 2016-2018.
Source : 31 March 2015/JLL/Dubai/HOT