Hotels in Jeddah saw double digit growth in demand during January, boosted by school holidays, according to new figures from analysts STR.
Its preliminary January 2018 data for hotels in the Saudi city indicated mostly negative performance due to supply growth.
Based on daily data from January, Jeddah reported an 11.7 percent growth in supply compared to 12.1 percent demand growth.
STR said occupancy rates in the city rose slightly by 0.3 percent to 50.6 percent but average daily rate (ADR) fell by 2.4 percent to SR732.33 while revenue per available room (RevPAR) dropped by 2.1 percent to SR370.33.
STR analysts noted that significant supply growth and RevPAR decreases have been fairly consistent in Jeddah during the last three years. However, the month’s high demand growth figure was boosted by the school holiday during the middle of January.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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