LONDON – Riyadh’s hotel industry showed improved performance from the month prior, according to preliminary October 2022 data from STR.
- Occupancy: 72.3%
- Average daily rate (ADR): SAR771.24
- Revenue per available room (RevPAR): SAR557.28
The market’s ADR and RevPAR levels surpassed the pre-pandemic comparable, while occupancy remained slightly below October 2019 (-4.0%).
Occupancy and ADR were the highest for any month since March 2022, while RevPAR was the highest since May 2011.
More of STR’s 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), 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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