Jeddah hotel occupancy, revenues soar in June

Hotels in Jeddah, Saudi Arabia, reported a positive performance in June as occupancy and revenue rates increased significantly, according to industry experts.

Figures released by STR revealed that that occupancy across the Saudi city averaged 72.5 per cent in June, up 3.2 per cent on the year-earlier period.

Average daily rates (ADR) also rose 16.1 per cent to SR1,383.14 ($368.6) and revenue per available room (RevPAR) also jumped 19.9 per cent to SR1,002.29 ($267.1).

Demand and supply also marched upward, with Jeddah recording an increase of 12.3 per cent and 8.7 per cent, respectively.

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. - TradeArabia News Service