STR’s preliminary November 2017 data for hotels in Jeddah, Saudi Arabia, indicates significant supply growth and steep performance declines.
Based on daily data from November, Jeddah reported the following in year-over-year comparisons:
- Supply: +9.8%
- Demand: -9.3%
- Occupancy: -17.4% to 45.7%
- Average daily rate (ADR): -9.7% to SAR702.62
- Revenue per available room (RevPAR): -25.4% to SAR321.06.
The absolute RevPAR level would be the lowest for a November in Jeddah since 2007.
STR will release full November 2017 results later this month.
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