STR's preliminary November 2018 data for Jeddah, Saudi Arabia, indicates negative performance comparisons affected by continued supply growth.

Based on daily data from November, Jeddah reported the following in year-over-year comparisons:

  • Supply: +8.1%
  • Demand: +3.4%
  • Occupancy: -4.3% to 43.9%
  • Average daily rate (ADR): -10.1% to SAR624.69
  • Revenue per available room (RevPAR): -14.0% to SAR274.35

Strong supply continues to affect performance levels in the market. Additionally, STR analysts note that the winter months are typically slower for Jeddah hotels as King Salman's entourage and government officials head back to Riyadh.

STR will release full November results later this month.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.