UAE hotels’ revenues jump 24% in seven months

The UAE Ministry of Economy said that the revenues of hotel establishments in the country amounted to AED 26 billion ($7.1 billion) in the first seven months of 2023, with a growth of 24% year-over-year.

“The total number of guests at hotel facilities reached 16 million during the period from January to June, an increase of 15% compared to the same period in 2022 and a total of 56 million hotel nights,” the UAE Ministry of Economy said in a statement.

“The hotel occupancy rate reached 75% during the first seven months of this year, with a growth rate of 5% compared to the same period last year,” the statement added.

“The total number of hotel establishments in the UAE increased to 1,224 by the end of July,” the statement noted.

“These indicators contribute to enhancing the UAE’s competitiveness on the global tourism map and also support the achievement of the national target to raise the contribution of the tourism sector to the GDP to 450 billion dirhams by the next decade, in light of the UAE’s Vision 2031,” the minister of economy Abdullah bin Touq Al Marri said.