STR's preliminary October 2019 data for Riyadh, Saudi Arabia, indicates significant growth in demand due to a strong event impact.
Based on daily data from October, Riyadh reported the following in year-over-year comparisons:
Occupancy: +17.0% to 76.2%
Average daily rate (ADR): +7.5% to SAR717.14
Revenue per available room (RevPAR): +25.8% to SAR546.12
You may also like
STR analysts note that the Future Investment Initiative (29-31 October) helped boost performance levels in Riyadh, with the second day of the event showing the month's largest increases in each of the three key performance metrics: occupancy (+46.8%), ADR (+72.2%) and RevPAR (+152.8%).
STR will release full October results later this month.
This article has been aggregated from www.hospitalitynet.org and they maybe/are the copyright owners of the same. If you are the Author/Copyright owner of this article and want us to remove the same then send an email to firstname.lastname@example.org so that we can delete it immediately. We sincerely regret and apologies for any inconvenience caused to you due to the same. Though it is your decision but please take note that the link to your website and the article have been given above, within and on the bottom of the article.