LONDON -- STR's preliminary December 2017 data for hotels in Jeddah, Saudi Arabia, indicates significant supply growth and negative performance.

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

  • Supply: +7.0%
  • Demand: -2.0%
  • Occupancy: -8.4% to 45.1%
  • Average daily rate (ADR): -4.1% to SAR694.85
  • Revenue per available room (RevPAR): -12.1% to SAR313.45.

STR analysts note that while room demand has fallen, a jump in new supply continues to worsen occupancy levels and pressure rates. The absolute occupancy level would be the lowest for any December on record in Jeddah, while the ADR value would be the lowest for a December since 2010.

STR will release full December and total-year 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