In June year-over-year data, Jeddah hotels reported demand (+12.3%) that outpaced supply growth (+8.7%), which resulted in increases of 3.2% in occupancy, 16.1% in ADR and 19.9% in revenue per available room.
STR’s preliminary June 2018 data for Jeddah, Saudi Arabia, indicates positive performance.
Based on daily data from June, Jeddah reported the following in year-over-year comparisons:
- Supply: +8.7%
- Demand: +12.3%
- Occupancy: +3.2% to 72.5%
- Average daily rate (ADR): +16.1% to SAR1,383.14
- Revenue per available room (RevPAR): +19.9% to SAR1,002.29
STR analysts note that year-over-year comparisons were lifted due to fewer Ramadan dates in June 2018 than June 2017. At the same time, supply growth remains significant in the market, muting absolute occupancy levels.
STR will release full June results later this month. The May edition of STR’s Market Forecast is available now for Jeddah and a host of other markets across the globe.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.