Hotels in Jeddah posted a drop of 2.4% in terms of Average Daily Rate (ADR) as well as fall of 2.1% in RevPAR for the start of 2018.
The figures were posted by industry analysts STR who stated that the negative performance was chiefly down to a significant rise of 11.1% in terms of supply.
“STR analysts note that significant supply growth and RevPAR decreases have been fairly consistent in Jeddah during the last three years,” said a spokesperson for STR.
“However, the monthâ€™s high demand growth figure was boosted by the school holiday during the middle of January.”
Based on daily data from January, Jeddah reported the following in year-over-year comparisons:
- Supply: +11.7%
- Demand: +12.1%
- Occupancy: +0.3% to 50.6%
- Average daily rate (ADR): -2.4% to SAR732.33
- Revenue per available room (RevPAR): -2.1% to SAR370.33