Helped by the annual Saudi Arabian Grand Prix, Jeddah's hotel industry reported performance growth across the metrics, according to March preliminary data from CoStar.
Jeddah reported its highest occupancy level on Wednesday, 17 May (at 90.6%). Room rates were the highest (SAR1,440.69) on Thursday, 18 May, the night before the Arab League Summit.
The market’s occupancy level was its lowest since April 2022, while ADR and RevPAR were the lowest since February 2022. Each of the three key performance metrics, however, surpassed the 2019 comparable: occupancy (+16.2%), ADR (+13.0%) and RevPAR (+31.3%).
While the highest since September 2019, each of the key performance levels came in lower than the pre-pandemic comparables from May 2019: occupancy (-6.4%), ADR (-29.4%) and RevPAR (-33.9%).
Performance came in lower than the month prior after the market hosted the Saudi Arabian Grand Prix in early December, which drove monthly performance to reach levels not seen since September 2019.
On 4 December, the day before the F1 Grand Prix, the market’s ADR (SAR1707.72) and RevPAR (SAR1517.92) were the highest for any one day in STR’s Jeddah database. Daily occupancy peaked at 89.2% on race day and was the market’s highest level since 25 August 2018 (89.3%).
Jeddah’s hotel industry reported slightly lower performance levels compared with the month prior, according to preliminary July 2021 data from STR.
The occupancy and RevPAR levels were Jeddah’s second highest since February 2020. Only January 2021 produced higher levels. ADR, on the other hand, fell in line with the levels recorded in the latter half of 2020.
Hotels in Jeddah, Saudi Arabia, reported occupancy dipped 24.3% to 36.4%, ADR fell 15.9% to 646.03 Saudi Arabian riyals ($172.28) and RevPAR decreased 36.3% to 234.93 riyals ($62.65).
Hotels in Jeddah, Saudia Arabia, reported hotel occupancy fell 57.9% to 32.1% in July 2020, according to preliminary data from STR. ADR dipped 36.8% to 769.35 Saudi Arabian riyals ($205.16) and RevPAR dropped 73.4% to 247.17 riyals ($65.91).