Monday 10 August 2020

Jeddah hotels post record occupancy in July

LONDON, August 12, 2019

Hotels in Jeddah, Saudi Arabia, recorded high occupancy during July but witnessed double-digit rate declines due to comparison with a strong 2018, said a report from STR, a global marketplace insights provider for the hospitality sector.

 Based on daily data from July, Jeddah reported the following in year-over-year comparisons:

•    Supply: +7.3 per cent
•    Demand: +9.5 per cent
•    Occupancy: +2.1 per cent to 76.8 per cent
•    Average daily rate (ADR): -11.9 per cent to SR1,239.04 ($330)
•    Revenue per available room (RevPAR): -10.0 per cent to SR951.36 ($253.3)

The absolute occupancy level is the highest for any month in Jeddah since August 2016.

STR analysts noted that although rates were down, occupancy held strong because of high demand. While RevPAR was down year over year, the absolute level in the metric was the second-highest (behind June 2019) since August 2018. – TradeArabia News Service


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