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Demand in the Saudi Arabian city continued to flourish as hotels reported a 4.5 percent rise in RevPAR.

The surge in room revenues was driven by a solid 6.3 percentage point increase in occupancy levels, offsetting a 3.3 percent drop in ARR to USD286.66.

The spike in hotel guests had a trickle-down effect on other hospitality services, allowing total RevPAR to grow 5.6 percent.

Complemented by a reduction in payroll expenses, profitability was boosted by the steady increase in top line revenues with GOPPAR growing by 8.8 percent to USD177.47.

OBT Long Stay Apartments