Demand for hotel rooms in Saudi Arabia rose by 16.4% in January – this was partly down to the January school holiday in the Kingdom, which had fallen in February of 2017, according to figures released by industry analysts STR.
“The January school holiday, which fell primarily in February last year, pushed a 16.4% rise in demand. Both occupancy and ADR levels continue to be pressured by supply growth, which rose to 9.3% for the month,” said an STR spokesperson.
“Saudi Arabia’s hotel development pipeline represents 76% of the existing room supply in the country. However, STR analysts stress the importance of considering the long-term investments being made in tourism and hospitality as part of Vision 2030.”
- Occupancy: +6.4% to 59.5%
- ADR: -5.2% to SAR566.34
- RevPAR: +0.9% to SAR336.70
- Occupancy: +1.9% to 69.1%
- Average daily rate (ADR): -3.4% to US$170.28
- Revenue per available room (RevPAR): -1.6% to US$117.75