Jeddah hotel revenues in November fall to lowest since 2007

Analysts STR says revenue per available room falls to lowest mark in a decade
By Staff writer
Sat 16 Dec 2017 05:02 AM

Jeddah hoteliers are set to see revenue per available room (RevPAR) hit its lowest November mark for 10 years, according to analysts STR.

Its preliminary November 2017 data for hotels in the Saudi city indicates significant supply growth and steep performance declines.

Based on daily data from November, Jeddah reported a 25.4 percent slump in RevPAR compared to November 2016 to SR321.06, the lowest for the month since 2007.

Supply rose by 9.8 percent while demand fell by 9.3 percent, resulting in an occupancy decline of more than 17 percent to 45.7 percent.

STR data also showed that average daily rates in Jeddah fell by 9.7 percent to SR702.62.

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Last Updated: Sat 16 Dec 2017 11:08 AM GST

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