STR’s preliminary June 2018 data for Jeddah, Saudi Arabia, indicates positive performance for the city.
Based on daily data from June, Jeddah reported the following in year-over-year comparisons: supply increased by 8.7% while demand also increased by 12.3%. Occupancy rose by 3.2% to 72.5%, while ADR and RevPAR were also positive: SAR1,383.14 [US$369] (an increase of 16.1%), and SAR1,002.29 [$267] (an increase of 19.9%), respectively.
STR analysts noted that year-over-year comparisons were lifted due to fewer Ramadan dates in June 2018 than June 2017. At the same time, supply growth remains significant in the market, muting absolute occupancy levels.
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