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.

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