jeddah hotel performance
Jeddah Room Rates Jumped During Formula One
CoStar Group | April 10, 2024
WASHINGTON – 10 April 2024 – Helped by the annual Saudi Arabian Grand Prix, Jeddah’s hotel industry reported performance growth across the metrics, according to March preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (year-over-year % change): Occupancy: 66.3% (+2.2%) Average daily rate (ADR): SAR929.94 (+3.2%) Revenue per available room (RevPAR): SAR616.63 (+5.5%) Jeddah hosted the 2024 Saudi Arabian Grand Prix between 7-9 March, which drove daily performance in the market. Occupancy was the highest on Wed...
STR: Jeddah Hotels Report Highest Occupancy Since 2016
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 t...
