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Q.
Which sized condo hotel unit will likely get the best
occupancy rates?
A.
It is generally expected that two- and three-bedroom
units will be the most popular. This is because there
are vast numbers of large families that travel to Dubai
from Asia and the GCC (Gulf Cooperation Council, the
united group that bonds most of the countries in Arabia,
much like the united bond between countries in Europe).
With
the building of Dubailand which will be an immense family-oriented
theme park resort, you can expect to see more families,
(and extended families like grandparents, in-laws and
nannies), coming to Dubai.
Q. What are Dubai's occupancy
rates?
A.
Dubai's occupancy rates have for years been over 80%,
among the world's best. For the period of January 2005
to September 2005, Dubai's fast-expanding portfolio
of hotels reported the highest occupancy rate in the
world, wresting the title from other top tourist destinations.
Deloitte
and Smith Travel Research put Dubai on top with a 85.9%
hotel occupancy rate followed by New York with 82.7%
and Singapore at 80%.
Dubai
hotels have also been ranked first in the world in terms
of generating the highest revenue per available room
(RevPar) between January and September 2005, followed
by New York and Paris, according to Global Lodging Review,
a publication of the Deloitte and Smith Travel Research.
The
premium travel research publication highlighted that
Dubai hotels' RevPar (which provides a measure of the
revenue generated by each available hotel room during
the year) is the highest at $175.47 while New York comes
second with $163.32 and Paris third with $169.53. Dubai's
revenue represents a significant 42.3% increase from
the RevPar generated by Dubai's hotels in 2004 (year-to-date
statistics).
The above questions were submitted via e-mail by a visitor
to www.CondoHotelsDubai.com.
The answers were prepared by Joel Greene, a licensed
real estate broker, who specializes in condo hotels
and the Dubai real estate market.
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