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Religious tourism to boost Riyadh & Jeddah hotel slump

Sophia Soltani by Sophia Soltani
August 16, 2016
in News
A A

Religious tourism in Saudi Arabia is expected to drive revenue streams across the hospitality sector as performance in Riyadh and Jeddah slow down.

During the second quarter, the average occupancy rates in Mecca and Medina rose by 13% and 4% Y-o-Y, while those in Riyadh and Jeddah declined by 12% and 4 % respectively according to the latest Saudi report from  Colliers International. Capture

The report also revealed that average daily rates also suffered in Riyadh, declining by 11% during the second quarter of the year. In Mecca, the rates rose by 30% and by 4% in Medina with Mecca expecting 24,185 rooms in 2018, up from approximately 16,000 rooms in 2016, representing  the largest inventory in the country.

In June 2016, Mecca hotels reported a 24% increase Y-o-Y in the average occupancy rate to 80.7% due to increased demand throughout Ramadan with the report highligting that the average daily rate was $467 – representing a 70% Y-o-Y increase.

Tags: Collierscolliers internationalhospitalityHospitality in Saudihospitality industryHotelHotel NewsHotel News MEHotelshotels in saudiHotels near MeccaJeddah hotelsmarriottMeccaMecca and MedinaMecca Saudinew hotelsnewsReligious tourism in Saudi ArabiaRiyadh and JeddahRiyadh hotelsSaudi ArabiauaeUAE hotels

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