STR data shows the city’s occupancy rate reached 76% last month
According to newly released data from STR (Smith Travel Research), which provides analytics and marketplace insights for the global hospitality industry, Riyadh hotel occupancy during February 2023 was the highest it's been in that month since 2008.
Occupancy rate reached 76% during the month, while the average daily rate (ADR) reached SR801 (US$213) and revenue per available room (RevPAR) increased to SR605 (US$161).
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Each of the three key performance metrics came in significantly higher than the pre-pandemic comparables from 2019: occupancy (+23%), ADR (+34%) and RevPAR (+65%).
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