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 month’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