STR’s preliminary May 2019 data for Jeddah, Saudi Arabia, indicates low performance consistent with the time of Ramadan.
Based on daily data from May, Jeddah reported the following in year-over-year comparisons:
• Supply: +5.5%
• Demand: +3.0%
• Occupancy: -2.4% to 70.6%
• Average daily rate (ADR): -4.9% to SAR1,310.35
• Revenue per available room (RevPAR): -7.1% to SAR925.07
In addition to supply growth, STR analysts note that performance declines were mainly due to the shift in Ramadan dates. Last year, more of Ramadan occurred during June as opposed to May this year. The first week of the month saw double-digit decreases in both occupancy and RevPAR, with the steepest occupancy decline of the month occurring on 9 May (-27.8%).
STR will release full May results later this month.
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