Dubai’s Damac Hotels records Q4 occupancy rates of 85%
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Dubai’s Damac Hotels records Q4 occupancy rates of 85%

Dubai’s Damac Hotels records Q4 occupancy rates of 85%

Currently, around 80 per cent of the guests are based in the UAE, while 20 per cent are foreigners visiting the country

Damac Hotels

The hospitality division of Damac Properties has reported Q4 2020 occupancy rates of up to 85 per cent, indicating a strong turnaround for the industry that witnessed record low drops in April and May due to the Covid-19 pandemic.

“If you think about it, these are tremendous numbers given the global situation. While some countries are in lockdown because of high numbers of coronavirus cases, Dubai residents are flocking to hotels to enjoy the beautiful weather, views and to feel like they are on vacation since many prefer not to travel under the current circumstances,” said Niall McLoughlin, senior vice president of DAMAC.

“This speaks volumes about the UAE’s government’s excellent handling of the pandemic and the hospitality sector is a prime benefactor of these smart policies.”

Currently, around 80 per cent of the guests staying are domestic and 20 per cent are foreigners. The most number of visitors are from France, Lebanon, UK, US, India, Italy, China, Pakistan and Russia.

The average price of studios at Damac Hotels is Dhs250, a one bedroom is priced at Dhs300, a two bedroom at Dhs600 and a three bedroom at Dhs800.

Damac says that many UAE residents who do not want to commit to signing annual leases for their apartments, are opting for between on to three-month packages at its hotels as the prices of the serviced apartments are significantly lower compared to last year.

A Colliers MENA Hotel Market Survey forecasts recovery in the hospitality sector to begin in Q4 2020 and continue in 2021. The report predicts this trend will likely be bolstered by the buildup to Expo 2020, which will begin at the end of 2021.

“While some people prefer to stay home during the pandemic, many others are capitalising on the opportunity to experience luxury living at an affordable price,” added McLoughlin.

Serviced apartments at DAMAC hotel include full-serviced kitchens, laundry facilities and balconies too, with all apartments regularly disinfected.

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