Jeddah hoteliers report strong September as rates, revenues soar

Analysts STR says average daily rates jump 12% and revenue per available room rises 16%
Jeddah hoteliers report strong September as rates, revenues soar
By Staff writer
Tue 17 Oct 2017 01:28 PM

Jeddah hoteliers enjoyed a strong September with double digit increases in both rates and revenue compared to the year-earlier period, according to analysts STR.

STR’s preliminary September 2017 data for hotels in the Saudi city also indicated strong growth in both supply and demand in the hospitality market.

Based on daily data from September, Jeddah reported a 14.2 percent rise in supply against a 18.2 percent increase in demand.

The figures also revealed a 3.5 percent rise in occupancy to 70.2 percent in September while average daily rate (ADR) jumped by 12.3 percent to SR1,218.79 and revenue per available room (RevPAR) increased by 16.2 percent to SR855.49.

STR analysts noted that these performance increases are in comparison with a very weak September 2016. Jeddah recorded particularly strong performance levels during the IDC CIO summit, with RevPAR growth above 100 percent for September 27-28.

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Last Updated: Tue 17 Oct 2017 02:00 PM GST

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