STR’s preliminary May 2023 data finds that Jeddah, Saudi Arabia, has seen significant increases in its hotel occupancy.
Year-on-year comparison shows the room occupancy rate was 79.9%, an increase of 21.9% from the same period in 2022. The average daily rate was SR924.32, a rise of 3.9%.
While room rates were lower than April 2023, Jeddah’s revenue per available room (RevPAR) was its highest since September 2019 at SR738.80, an increase of 26.6%.
STR attributes this rise to the Arab League Summit, a meeting of heads of state and governments that took place on 19 May 2023.
Jeddah reported its highest daily occupancy level on Wednesday, 17 May at 90.6%.
Room rates were the highest on Thursday, 18 May 2023 at SR1440.69. This was the the night before the Arab League Summit opened. Overall, the market’s daily occupancy levels remained above 70% on all but three days during the month.
Hilton recently announced the debut of its DoubleTree by Hilton brand in Jeddah, while IHG Hotels and Resorts has signed for its first Holiday Inn Express hotel to open in the city.
GlobalData’s travel and tourism analysis finds that Saudi Arabia welcomed 13.67 million international arrivals in 2022. The country saw 14.12 million international departures over the same period.
