Jeddah hotels deliver strongest August performance in 2018

Jeddah hotels deliver strongest August performance in 2018
Published: 16 September 2018 - 12:59 a.m.
By: Hotelier Middle East Staff

Hotels in Jeddah are set to deliver their strongest August performance on record, according to industry analysts STR.

STR’s preliminary August data for the Saudi city indicates strong demand and performance growth.

Based on daily data from August, Jeddah reported a 6.3% rise in supply while demand soared by 16.6%.

Average occupancy for Jeddah hotels in August is set to jump by nearly 10% to 73.4%, the data also showed. Both average daily rate (ADR) - up 9.6% to SR1,350.97 and revenue per available room (RevPAR) - up 20.3% to SR991.76 - are set to reach their highest August mark since STR started to keep records.

"Significant growth in demand (room nights sold) helped pushed ADR and RevPAR to their highest absolute levels for any August in STR’s database," a statement said.

The preliminary August figures follow a successful July for Jeddah's hospitality market when occupancy levels rose to their highest July mark for six years.

July performance results for the Saudi city revealed that occupancy rose by 12.4% to 76.6%, the highest since 2012 for the month.

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