STR: Jeddah’s hotel performance surpassed pre-pandemic levels in November
Jeddah’s hotel performance came in lower than the month prior but surpassed pre-pandemic comparables, according to preliminary November 2022 data from STR.
Jeddah’s hotel performance came in lower than the month prior but surpassed pre-pandemic comparables, according to preliminary November 2022 data from STR.
- Occupancy: 54.5%
- Average daily rate (ADR): SAR586.71
- Revenue per available room (RevPAR): SAR319.50
The market’s occupancy level was its lowest since April 2022, while ADR and RevPAR were the lowest since February 2022. Each of the three key performance metrics, however, surpassed the 2019 comparable: occupancy (+16.2%), ADR (+13.0%) and RevPAR (+31.3%).
When looking at daily data, the highest occupancy level (75.2%) was recorded on Wednesday, 30 November – the only day of the month that the metric came in above 70%.
More of STR's analysis can be found here.
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CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
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