Report: RevPAR in KSA grows considerably
STR released the November results for MENA hotel performance
Hotels in KSA’s Riyadh have seen a revenue per available room (RevPAR) increase of 49.5% in the last 12 years for November.
STR’s ‘Middle East and Africa hotel performance for November 2019’ also showed hotel occupancy has risen from 34.6% to 82.8% during November since 2007.
Average daily rate (ADR) has also seen improvement, with an 11.1% rise to SAR 685.91 (US $182.88).
STR data analysts attributed Saudi’s strong statistics to a 55% increase in demand thanks to the Saudi Vision 2030, the country-wide mission to make the Kingdom’s economy more diverse. A major part of the Vision is to improve KSA’s tourism and hospitality industry.
On a wider scale, the Middle East saw occupancy go from 3.4% to 72.1% in November since 2007. However, STR also reported the region saw ADR drop by 5.9% to $146.47 and RevPAR by 2.6% to $105.56