STR's preliminary August 2018 data for Jeddah, Saudi Arabia, indicates strong demand and performance growth.

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

  • Supply: +6.3%
  • Demand: +16.6%
  • Occupancy: +9.7% to 73.4%
  • Average daily rate (ADR): +9.6% to SAR1,350.97
  • Revenue per available room (RevPAR): +20.3% to SAR991.76

Significant growth in demand (room nights sold) helped pushed ADR and RevPAR to their highest absolute levels for any August in STR's database.

STR will release full August 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.