STR: Preliminary October data for Jeddah hotels
LONDON—Jeddah’s hotel industry reported mixed performance in comparison with recent months, according to preliminary October 2020 data from STR.
Year-over-year declines in the key performance metrics remained significant when compared with October 2019:
- Occupancy: -24.3% to 36.4%
- Average daily rate (ADR): -15.9% to SAR646.03
- Revenue per available room (RevPAR): -36.3% to SAR234.93
Absolute occupancy was up slightly from September (36.1%) and was the market’s second highest level in the metric since the beginning of the pandemic. The ADR level was the market’s lowest since June, pulling RevPAR lower than any month since July.
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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