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STR Global: Saudi Arabia Witnesses High Occupancy

According to July data compiled by STR Global, hotels in the Middle East and Africa region

reported a 12.1 percent surge in occupancy to 55.1 percent, a 5.3 percent rise in average daily rate (ADR) to USD159.10 and an 18.1 percent growth in RevPAR to USD87.69 when compared to the same month in 2014.

Saudi Arabia reported marginal increases across all performance metrics, however, the 59.1 percent occupancy was the Kingdom’s highest since July 2012, thanks to levels in Mecca which exceeded 82 percent.

The UAE posted double-digit growth in occupancy and RevPAR, while ADR declined 0.4 percent to AED533.88 (USD145.35).

Even with regional instability, Lebanon experienced growth over 45 percent in occupancy and RevPAR, while ADR was up 8.8 percent.

OBT Long Stay Apartments