Jeddah hotels record drop in RevPAR, ADR in July 2019
However, properties recorded a rise in supply and demand
Hotels in Jeddah have recorded a drop in average daily rate (ADR) and revenue per available room (RevPAR) in the month of July 2019, despite a rise in occupancy.
According to data from STR, supply rose by 7.3% and demand increased by 9.5% when compared to the same period last year.
RevPAR dropped by 10% to SAR951.36 (US$253.69), while ADR dropped by 11.9% to SAR1,239.04 ($330.4) when compared to 2018.
Occupancy rates touched 76.8% with a 2.1% increase in comparison to 2018.
STR revealed that this “absolute occupancy level is the highest for any month in Jeddah since August 2016”.
Analysts at STR analysts said that “although rates were down, occupancy held strong because of high demand”. While RevPAR was down year over year, the absolute level in the metric was the second-highest (behind June 2019) since August 2018.