Riyadh’s hotel industry reported higher occupancy than the month prior, but lower room rates, according to preliminary June 2022 data from STR.
According to STR data:
• The occupancy rate was: 56.5%
• Average daily rate (ADR): SAR580.61
• Revenue per available room (RevPAR): SAR328.17
While ADR and RevPAR fell month over month, each of the three key performance metrics came in higher than the pre-pandemic comparable.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc, the leading provider of commercial real estate information, analytics and online marketplaces.