STR: Preliminary January data for Riyadh hotels
LONDON—Riyadh’s hotel industry reported its highest overall performance since the start of the pandemic, according to preliminary January 2021 data from STR. Year-over-year declines remained significant.
- Occupancy: 56.2% (-23.8%)
- Average daily rate (ADR): SAR582.92 (-9.9%)
- Revenue per available room (RevPAR): SAR327.56 (-31.3%)
The absolute RevPAR level was the highest for any month in Riyadh since February. When looking at daily data, 1 January was the only day of the month that Riyadh hotels saw year-over-year growth in occupancy and RevPAR, along with the highest absolute levels: occupancy (+12.2% to 68.6%), ADR (+2.3% to SAR616.13) and RevPAR (+14.7% to SAR422.71).
All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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.
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