STR: Preliminary December data for Jeddah hotels
 
STR: Preliminary December data for Jeddah hotels
11 JANUARY 2018 9:54 AM

Preliminary data for December 2017 for Jeddah, Saudi Arabia, shows hotels in the market saw occupancy decline 8.4% to 45.1%, ADR dropped 4.1% to 694.85 Saudi Arabian riyals ($187.68) and RevPAR also fell 12.1% to 313.45 Saudi Arabian riyals ($84.66). 


LONDON—STR’s preliminary December 2017 data for hotels in Jeddah, Saudi Arabia, indicates significant supply growth and negative performance.

Based on daily data from December, Jeddah reported the following in year-over-year comparisons:

  • Supply: +7.0%
  • Demand: -2.0%
  • Occupancy: -8.4% to 45.1%
  • Average daily rate (ADR): -4.1% to SAR694.85
  • Revenue per available room (RevPAR): -12.1% to SAR313.45.

STR analysts note that while room demand has fallen, a jump in new supply continues to worsen occupancy levels and pressure rates. The absolute occupancy level would be the lowest for any December on record in Jeddah, while the ADR value would be the lowest for a December since 2010.

STR will release full December and total-year 2017 results later this month.

About STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.

Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.