Dubai hotels enjoyed a 17.3% rise in RevPAR in October 2012, while occupancy rates climbed by more than 5%, according to a new report by Ernst & Young. Its Middle East Hotel Benchmark Survey also revealed that average room rates rose nearly 10% during the month.
"These numbers show that the emirate is not only a key tourist destination, but also a major business hub," said Yousef Wahbah, MENA head of transaction real estate at Ernst & Young.
According to Wahbah, Dubai is representative of the overall growth presently being enjoyed in the UAE, Saudi Arabia and Egypt.
"The cooler months in the UAE and increased political stability in the region are setting up for a prosperous winter season," he said."Thus far, the peak season is off to a strong start, and we predict this to continue."