LONDON — December 10, 2021 — Lifted by the, Jeddah’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary daily data from STR.
On 4 December, the day before the F1 Grand Prix, the market’s ADR (SAR1707.72) and RevPAR (SAR1517.92) were the highest for any one day in STR’s Jeddah database. Daily occupancy peaked at 89.2% on race day and was the market’s highest level since 25 August 2018 (89.3%).
“The special circumstances of Saudi Arabia hosting its first F1 Grand Prix, in between races held in Doha and Abu Dhabi, drove hotelier pricing confidence and overall performance to record-breaking levels,” said Philip Wooller, STR’s area director for Middle East & Africa. “The RevPAR level achieved the night before the race was the highest ever recorded in a Saudi market outside of Makkah, and when we compare with the weeks before the race, the need for such a boost was significant.”
The F1 Grand Prix doubled Jeddah’s hotel performance when compared with previous weeks. The weekend prior, Saturday (27 November) occupancy was 59.8% while ADR was SAR612.25.
