September 13, 2018
Hotels in Jeddah, Saudi Arabia, reported a positive performance in August as occupancy and revenue rates increased significantly, according to industry experts.
Figures released by STR revealed that occupancy across the Saudi city averaged 73.4 per cent in August, up 9.7 per cent on the year-earlier period.
Average daily rates (ADR) also rose 9.6 per cent to SR1,350.97 ($360) and revenue per available room (RevPAR) also jumped 20.3 per cent to SR991.76 ($264.3).
Demand and supply also marched upward, with Jeddah recording an increase of 16.6 per cent and 6.3 per cent, respectively.
STR analysts noted that significant growth in demand (room nights sold) helped pushed ADR and RevPAR to their highest absolute levels for any August in STR’s database.