LONDON -- STR's preliminary August 2017 data for Jeddah, Saudi Arabia, indicates lower occupancy levels but higher rates amid significant supply growth.

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

  • Supply: +17.8%
  • Demand: +1.7%
  • Occupancy: -13.7% to 68.5%
  • Average daily rate (ADR): +8.2% to SAR1,240.65
  • Revenue per available room (RevPAR): -6.6% to SAR850.30

STR analysts note that the year-over-year spike in rooms available (supply) significantly pressured occupancy levels and ultimately RevPAR for the month.

STR will release full August 2017 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.

Alex Anstett
Media & Communications Coordinator - STR
STR