Riyadh hotels post 15-year high Feb occupancy: STR

Getty Images

The occupancy rate reached 75.5% during the month

Staff Writer, TradeArabia

March 14, 2023

PHOTO

Riyadh’s hotel occupancy was its highest for a February since 2008, according to preliminary data from STR, pa provider of premium data benchmarking, analytics and marketplace insights for the global hospitality industry.

The occupancy rate reached 75.5% during the month, while the average daily rate (ADR) reached SR801.46 ($213.4) and revenue per available room (RevPAR) increased to SR605.06 ($161.1)

Each of the three key performance metrics came in significantly higher than the pre-pandemic comparables from 2019: occupancy (+23.4%), ADR (+34.0%) and RevPAR (+65.3%).

According to daily data, the market recorded occupancy over 90% for three consecutive days from February 6-8, helped by the International Conference and Exhibition for Science.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.