STR | June 14, 2023
LONDON – Helped by the Arab League Summit, Jeddah’s hotel industry posted its highest monthly occupancy since August 2016, according to preliminary May 2023 data from STR.
May 2023 (year-over-year % change)
- Occupancy: 79.9% (+21.9%)
- Average daily rate (ADR): SAR924.32 (+3.9%)
- Revenue per available room (RevPAR): SAR738.80 (+26.6%)
While room rates were lower than the month prior, Jeddah’s RevPAR was its highest since September 2019.
When looking at daily data, Jeddah reported its highest occupancy level on Wednesday, 17 May (at 90.6%). Room rates were the highest (SAR1,440.69) on Thursday, 18 May, the night before the Arab League Summit. Overall, the market’s daily occupancy levels held above 70% on all but three days.
More of STR’s analysis can be found here.
