Dubai’s Hotels Have the Most Vacant Rooms in 18 Years

Dubai’s hotels had the lowest occupancy in at least 18 years in July, standing more than half empty, as more rooms were created and demand declined, according to research firm STR Global.

Occupancy declined 11.8 percentage points to 45.4 percent from a year earlier, STR Global said in a report dated yesterday. That’s the lowest since the company began tracking the Dubai hospitality market.