STR: Preliminary May data for Riyadh hotels
LONDON—Riyadh’s hotel industry reported its highest room rates in three months, according to preliminary May 2021 data from STR.
- Occupancy: 42.8%
- Average daily rate (ADR): SAR544.31
- Revenue per available room (RevPAR): SAR232.85
Each of the three key performance metrics were up from April, but despite the month-over-month increase, occupancy and RevPAR came in lower than earlier pandemic-affected months. Year-over-year percentage increases are substantial because of the comparison with the months most affected by the pandemic in 2020.
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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