Preliminary August 2017 data from STR shows hotels in Jeddah, Saudi Arabia, reported occupancy decreased 13.7% to 68.5%, and while ADR rose 8.2% to 1,240.65 Saudi Arabian riyals ($330.83), RevPAR still dropped 6.6% to 850.30 Saudi Arabian riyals ($226.68).
LONDON—STR’s preliminary August 2017 data for Jeddah, Saudi Arabia, indicates lower occupancy levels but higher rates amid significant supply growth.
Based on daily data from August, Jeddah reported the following in year-over-year comparisons:
- Supply: +17.8%
- Demand: +1.7%
- Occupancy: -13.7% to 68.5%
- Average Daily Rate (ADR): +8.2% to SAR1,240.65
- Revenue Per Available Room (RevPAR): -6.6% to SAR850.30.
STR analysts note that the year-over-year spike in rooms available (supply) significantly pressured occupancy levels and ultimately RevPAR for the month.
STR will release full August 2017 results later this month.
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