Thursday 25 April 2019

Jeddah hotels hit by supply growth in November: STR

LONDON, December 10, 2018

Preliminary data for November2018 from analytics firm STR for Jeddah, Saudi Arabia indicates negative performance comparisons affected by continued supply growth.  

Supply was up by 8.1 per cent year-over-year, while demand grew only 3.4 per cent during the month, STR said, based on daily data from November.

Hotel occupancy was down 4.3 per cent as against a growth of 43.9 per cent in the corresponding period last year.

Average daily rate (ADR) was down by 10.1 per cent to SR624.69 ($166.7) and revenue per available room (RevPAR) fell 14 per cent to SR274.35.

Strong supply continues to affect performance levels in the market. Additionally, STR analysts note that the winter months are typically slower for Jeddah hotels as King Salman’s entourage and government officials head back to Riyadh.

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. – TradeArabia News Service

Tags: November | STR | Jeddah hotels |

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