Performance Decline for Jeddah Hotels for November 2018

The Ritz-Carlton, Jeddah - Exterior
Performance Decline for Jeddah Hotels for November 2018

According to preliminary November data from STR, hotels in Jeddah, Saudi Arabia, reported occupancy decreased 4.3% to 43.9%, ADR dropped 10.1% to 624.69 Saudi Arabian riyals ($166.58) and RevPAR fell 14% to 274.35 riyals ($73.16).

STR’s preliminary November 2018 data for Jeddah, Saudi Arabia, indicates negative performance comparisons affected by continued supply growth.   

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

  • Supply: +8.1%  
  • Demand: +3.4%
  • Occupancy: -4.3% to 43.9%
  • Average daily rate (ADR): -10.1% to SAR624.69
  • Revenue per available room (RevPAR): -14.0% to SAR274.35

Strong supply continues to affect performance levels in the market. Additionally, STR analysts note that the winter months are typically slower for Jeddah hotels as King Salman’s entourage and government officials head back to Riyadh.  

STR will release full November 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.