The Saudi capital’s hospitality sector continues to approach pre-pandemic performance
According to preliminary September 2021 data from STR, Riyadh’s hotel sector is continuing to recover.
The overall recorded occupancy was 59%, with an average daily rate (ADR) of SR520 (US$139) and RevPAR (revenue per available room) at SR307 (US$82).
Absolute occupancy fell slightly from August (60%), but the ADR was the market’s highest since May and the RevPAR level was the highest since June. For context, pre-pandemic in September 2019 occupancy was at 62%, with SR553 (US$147) ADR and SR343 (US$92) RevPAR.
The total branded keys in the Kingdom reached 58,600 at the end of Q1 2021, representing an increase of 9% compared to the same period last year. The Jeddah and Makkah markets recorded the highest increase in supply in Q1 2021, accounting for approximately 600 additional keys.