STR: Preliminary November data for Jeddah hotels

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.