Since the conflict between Iran and Israel began at the end of February, fewer visitors have travelled to the region, and Dubai's holiday homes market has felt it directly through fewer bookings and lower nightly prices. Hotels have discounted heavily to compete for a smaller pool of guests, pulling rates down across the board.
Through it all, PK-managed homes stayed busier than the market. We led the Dubai average on nights booked every single month from March to June, with 15% more nights booked in June and 11% more on average across the season. The choice we made was simple: rather than hold high prices and sit empty, we priced competitively to keep homes earning through the worst of the downturn. Revenue fell hardest in April, down 51% year on year, then closed the gap month after month to sit just 8% below normal by June.
We also used the quieter period to invest. We moved to world-class property management software with transparent owner access, added damage protection of up to $50,000 per stay, brought in a specialist linens partner so owners are no longer billed for replacements, and put a full-time reservations team on call around the clock. We completed seven renovations during the conflict, including our own office, positioning those homes to capture the recovery at higher rates.
July is already our strongest month of 2026, with every measure we track at its yearly high and three weeks of the month still to sell. Looking ahead, winter is Dubai's peak travel season, and as the situation eases we expect rates to firm up and demand for well-managed homes to strengthen. The hardest months are behind us, and every month since April has been stronger than the last.
Download the full July 2026 update below for the complete month-by-month picture, the modernisation work behind your home, and our view on the paths owners are weighing for the rest of the year.