Monday 19 March 2018

Jeddah hotel occupancy, revenues slump in November

LONDON, December 13, 2017

Hotels in Jeddah suffered in November with occupancy and revenues showing double-digit decreases, according to new data.

Figures released by STR revealed that hotel occupancy across the Saudi city averaged 45.7 per cent in November, down 17.4 per cent on the year-earlier period.

Data also showed that average daily rates (ADR) in Saudi Arabia fell by 9.7 per cent to SR702.62 ($187.2) while revenue per available room (RevPAR) plummeted by 25.4 per cent to SR321.06 ($85.5).

The absolute RevPAR level would be the lowest for a November in Jeddah since 2007.

Demand fell 9.3 per cent in Jeddah, while supply grew 9.8 per cent, the figures also showed. - TradeArabia news Service

Tags: hotels | Jeddah | Rates | Revenue | Occupancy | decline |

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