Hospitality major says Q3 concluded with ‘substantial increase in occupancy rates’ related to Expo 2020 Dubai.
Since its launch last month, Expo 2020 Dubai has attracted an excess of 3.5 million from all over the world. This influx has resulted in remarkable growth in the country’s hospitality sector. For one of the most diverse and dynamic property groups in the world, the Radisson Hotel Group, the third quarter of 2021 concluded with a substantial increase in occupancy rates and is observed to be consistently increasing for the fourth quarter. This demand projects a busy culmination to 2021.
The highly-anticipated gathering of nations to showcase, collaborate, and create a platform to explore opportunities has played a vital role in the recovery of the UAE’s hospitality industry. As the sector thrives in a post-pandemic era, the path to recuperate has not been without its challenges, but the country has witnessed a positive economic impact attributable to Expo 2020 Dubai.
The pronounced increase in occupancy is primarily derived from inbound leisure and weekend travelers, as well as domestic patrons. Statistics show that the duration of stay across 15 Radisson properties within the UAE averages at three nights for Q3 and Q4 so far. This indicates that the relevance of the type of travelers availing of short-term bookings marks a noteworthy outcome in terms of trends observed in the region at the onset of Expo 2020 Dubai.
Similarly, extended stays have also picked up from other segments such as corporates, events, and for the most part due to participants of the various pavilions at the world’s greatest show. The properties have observed demand for bookings that range from one month up to five months, largely due to partners who are staying in the country for the whole duration of the event.
“We have seen a significant increase in occupancy as Q4 ushered in. In Dubai, we have already achieved 2019 performance levels and will exceed them by the end of Q4. We expect the increased demand to continue until the culmination of Expo 2020 Dubai in March next year. The UAE’s tourism industry is well-positioned, and the government’s stringent safety measures and innovative marketing campaigns have played a vital role in supporting this recovery for the hospitality industry,” says Tim Cordon, Area Senior Vice President, Middle East, and Africa, at Radisson Hotel Group.
Radisson Hotel Group supports Expo 2020 Dubai and is recognized as an official Ticket Reseller for the spectacle. Until 31 March 2022, guests can book stays at all properties in the UAE with automatic Expo 2020 Dubai passes that may be selected along with their package based on the best available room rate.
Radisson Hotel Group projects an overall continual path of sustainable growth post Expo 2020 Dubai, as the country gets set to host a series of major events and exhibitions, including the 28th Conference of the Parties (COP 28), Arabian Travel Market, Arab Health, Dubai Shopping Festival. Occupancy is set to be propelled by a larger demand for international travel with border restrictions thoroughly being eased across various geographies.
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
