STR’s preliminary August 2017 data for Jeddah, Saudi Arabia, indicates lower occupancy levels but higher rates amid significant supply growth.
Based on daily data from August, Jeddah reported the following in year-over-year comparisons:
- Supply: +17.8%
- Demand: +1.7%
- Occupancy: -13.7% to 68.5%
- Average daily rate (ADR): +8.2% to SAR1,240.65
- Revenue per available room (RevPAR): -6.6% to SAR850.30
STR analysts note that the year-over-year spike in rooms available (supply) significantly pressured occupancy levels and ultimately RevPAR for the month.
STR will release full August 2017 results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Logos, product and company names mentioned are the property of their respective owners.