riyadh hotel industry
STR | November 16, 2022
LONDON – Riyadh’s hotel industry showed improved performance from the month prior, according to preliminary October 2022 data from STR. Occupancy: 72.3% Average daily rate (ADR): SAR771.24 Revenue per available room (RevPAR): SAR557.28 The market’s ADR and RevPAR levels surpassed the pre-pandemic comparable, while occupancy remained slightly below October 2019 (-4.0%). Occupancy and ADR were the highest for any month since March 2022, while RevPAR was the highest since May 2011. More of STR’s analysis can be found here....
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