STR: Preliminary June data for Jeddah hotels
STR’s preliminary June 2018 data for Jeddah, Saudi Arabia, indicates positive performance.
Based on daily data from June, Jeddah reported the following in year-over-year comparisons:
- Supply: +8.7 percent
- Demand: +12.3 percent
- Occupancy: +3.2 percent to 72.5 percent
- Average daily rate (ADR): +16.1 percent to SAR1,383.14
- Revenue per available room (RevPAR): +19.9 percent to SAR1,002.29
STR analysts note that year-over-year comparisons were lifted due to fewer Ramadan dates in June 2018 than June 2017. At the same time, supply growth remains significant in the market, muting absolute occupancy levels.
STR will release full June results later this month. The May edition of STR’s Market Forecast is available now for Jeddah and a host of other markets across the globe.