Helped by the Arab League Summit, Jeddah’s hotel industry posted its highest monthly occupancy since August 2016, according to preliminary May  data from STR, a global provider of analytics for the global hospitality industry.

The occupancy rate reached 79.9%, reflecting an increase of 21.9%. The average daily rate (ADR) was up 3.9% and touched SR924.32 ($246.24). Revenue per available room (RevPAR) surged 26.6% to hit SR738.80.

While room rates were lower than the month prior, Jeddah’s RevPAR was its highest since September 2019.

When looking at daily data, Jeddah reported its highest occupancy level on Wednesday, May 17 (at 90.6%). Room rates were the highest (SR1,440.69) on Thursday, May 18, the night before the Arab League Summit. Overall, the market’s daily occupancy levels held above 70% on all but three days. – TradeArabia News Service