STR: Preliminary November data for Jeddah hotels
STR's preliminary November 2017 data for hotels in Jeddah, Saudi Arabia, indicates significant supply growth and steep performance declines.Based on daily data from November, Jeddah reported the following in year-over-year comparisons:
LONDON -- STR's preliminary November 2017 data for hotels in Jeddah, Saudi Arabia, indicates significant supply growth and steep performance declines.
Based on daily data from November, Jeddah reported the following in year-over-year comparisons:
- Supply: +9.8%
- Demand: -9.3%
- Occupancy: -17.4% to 45.7%
- Average daily rate (ADR): -9.7% to SAR702.62
- Revenue per available room (RevPAR): -25.4% to SAR321.06.
The absolute RevPAR level would be the lowest for a November in Jeddah since 2007.
STR will release full November 2017 results later this month.
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