LONDON – Riyadh’s hotel occupancy was its highest for a February since 2008, according to preliminary data from STR.
- Occupancy: 75.5%
- Average daily rate (ADR): SAR801.46
- Revenue per available room (RevPAR): SAR605.06
Each of the three key performance metrics came in significantly higher than the pre-pandemic comparables from 2019: occupancy (+23.4%), ADR (+34.0%) and RevPAR (+65.3%).
According to daily data, the market recorded occupancy over 90% for three consecutive days from 6-8 February, helped by the International Conference and Exhibition for Science.
Further STR analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a 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), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.
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