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Jeddah hotels see occupancy, revenues slump in May

LONDON, June 12, 2019

Hotels in Jeddah, Saudi Arabia, reported a low performance in May, with occupancy and revenue rates dipping for the month following the start of Ramadan, according to industry experts.

Figures released by STR revealed thatoccupancy across the Saudi city averaged 70.6 per cent in May, down 2.4 per cent on the year-earlier period.

Data also showed that average daily rates  (ADR) dropped 4.9 per cent to SR1,310.35 ($349.2) while revenue per available room (RevPAR) plummeted 7.1 per cent to SR925.07 ($246.5).

Demand and suuply, however, rose in May, going up 3.0 per cent and 5.5 per cent respectively.

In addition to supply growth, STR analysts note that performance declines were mainly due to the shift in Ramadan dates. Last year, more of Ramadan occurred during June as opposed to May this year. The first week of the month saw double-digit decreases in both occupancy and RevPAR, with the steepest occupancy decline of the month occurring on May 9 (down 27.8 per cent). - TradeArabia News Service




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