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

© Copyright 2014 www.tradearabia.com

Copyright 2018 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

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.