JEDDAH – Hotels in the two major Saudi cities registered mixed occupancy results lat May, with Jeddah hotels achieving record occupancy, while Riyadh starting to feel the summer slump. Hotels in Jeddah experienced a 9.0 percentage point growth in occupancy during the month of May, the latest HotStats survey of full service hotels in six MENA cities by TRI Hospitality Consulting. Average occupancy at four - and five-star chain hotels in the city reached 82.9 percent with average room rates (ARR) increasing 11.8 percent to $220.15 during the month, compared to the same period last year. Revenue per available room (RevPAR) for the month surged 25.5 percent to $182.58 leading to strong growth in profits in terms of gross operating profit per available room (GOPPAR), increasing by 29.7 percent to $142.51. Riyadh hotels witnessed a decline in occupancy, achieving 67.3 percent occupancy in May, 3.3 percentage points lower than the same month last year. Despite a drop in ARR by 4.6 percent to $255.33, Riyadh has reported the highest ARR out of the six cities surveyed. However the reduction in total revenue per available room (TRevPAR) by 4.2 percent directly impacted profitability with the GOPPAR falling by 8.9 percent to $164.84. – SG
