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The May edition of STR’s Market Forecast for Jeddah is available now The May edition of STR’s Market Forecast for Jeddah is available now

Jeddah’s June Hotel Demand Outpaced Supply Growth – STR

Hotel market data and benchmarking company STR’s preliminary June data for Jeddah, Saudi Arabia, indicates positive performance.

According to June’s year-over-year data, Jeddah hotels reported demand (up 12.3 percent) that outpaced supply growth (up 8.7 percent), which resulted in increases of 3.2 percent in occupancy, 16.1 percent in ADR and 19.9 percent in revenue per available room (RevPAR).

According to STR, occupancy reached 72.5 percent and ADR climbed to SAR1,383.14 (USD368.71) while RevPAR reached SAR1,002.29 (USD267.18).

STR analysts note that year-over-year comparisons were lifted due to fewer Ramadan dates in June this year than June 2017. At the same time, supply growth remains significant in the market, muting absolute occupancy levels.

STR will release full June results later in July.