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Jeddah hotel occupancy, revenues drop in March

LONDON, April 10, 2018

Hotel occupancy levels and rates continued to drop in Jeddah as the city recorded a mostly negative performance in March due to a spike in supply.

Figures released by STR revealed that hotel occupancy across the Saudi Arabian city averaged 48.8 per cent in March, down 12.3 per cent on the year-earlier period.

Data also showed that average daily rates (ADR) dropped 5.6 per cent to SR674.54 ($179.7) while revenue per available room (RevPAR) plummeted by 17.2 per cent to SR329.17 ($87.7).

STR analysts note that occupancy levels have been declining significantly over the past two years due to supply growth. With room rates dropping as well, RevPAR has now decreased in the first quarter of each of the past three years.

Figures also showed that demand fell 0.9 per cent in Jeddah, while supply grew 12.9 per cent. - TradeArabia News Service

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

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