Jeddah hotels performance improves in October
RevPAR rose by 42.4%
After a slow start to the year where average hotel rates in Jeddah slumped to their lowest mark since April 2008 in March, the city has witnessed a growth in its performance indicator, data from STR suggested.
While occupancy rose by 23.9% to 48.1%, average daily rate (ADR) rose by 14.9% to SAR778.34(US$207.55) when compared to the same period last year.
The city’s revenue per available room (RevPAR) rose by 42.4% to SAR374.69($99.91).
STR’s analysts revealed that while the market registered a double-digit increase in occupancy, the absolute level in the metric was the second-lowest for an October since 2001.
“The market’s substantial increase in demand was 30.2%. Helping that growth was the opening of the King Abdul Aziz International Airport Terminal 1 and an increase in the number of international flights in the market,” analysts added.