F1 Grand Prix Lifted Jeddah Hotels to Record-Breaking Performance

STR | December 10, 2021

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 conf...