PHOTO
The hospitality sector in Saudi Arabia’s port city of Jeddah continued to see an improvement in business, with most hotels getting nearly half of their rooms booked in March 2021, preliminary data from industry research firm STR showed.
Hotel occupancy across the city stood at 47.1 percent last month, while the revenue per available room (RevPAR) reached 318.72 riyals ($85), the second highest levels reported during the pandemic period.
“The occupancy and RevPAR levels were Jeddah’s second highest since February 2020. Only January 2021 produced higher levels,” STR said on Wednesday.
However, the average daily rate for hotel rooms in March were still weak, at 676.36 riyals, in line with the levels recorded in the latter half of 2020.
Saudi Arabia’s hospitality sector suffered the worst of the pandemic last year, when borders remained shut to international traffic for months after the global lockdown was lifted. The kingdom has recently reintroduced the suspension of international flights amid new COVID-19 strains.
International travel to and from the kingdom is reportedly set to restart in May.
(Writing by Cleofe Maceda; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
