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Mostly Negative Performance Due to Supply Growth for Jeddah Hotels for March 2018

The Ritz-Carlton, Jeddah

The Ritz-Carlton, Jeddah

STR analysts note that occupancy levels have been declining significantly over the past two years due to supply growth. With room rates dropping as well, RevPAR has now decreased in the first quarter of each of the past three years.

STR’s preliminary March 2018 data for hotels in Jeddah, Saudi Arabia, indicates mostly negative performance due to a spike in supply. 

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

STR analysts note that occupancy levels have been declining significantly over the past two years due to supply growth. With room rates dropping as well, RevPAR has now decreased in the first quarter of each of the past three years. 

STR will release full March results later this month. The January edition of STR’s Market Forecast and the 2017 Global Hotel Study are now available.

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.

Posted by on April 10, 2018.

Categories: Market Reports

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