Summer Slowdown for Riyadh Hotels in June 2015

Aug 08, 2015
MJ

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The performance of hotels in Riyadh was negatively affected by a 6.1 percentage point reduction in occupancy to 59.1% as a direct result of a substantial decrease in demand. A marginal drop in ARR by 0.2% resulted in RevPAR declining 9.5%. However hotels were able to offset the decline in room revenue with strong food and beverage demand which resulted in a 2.2% rise in TRevPAR to US$249.09 when compared to the same period last year. Increased operational expenses and payroll costs eroded profit margins with GOPPAR experiencing a 7.3% decline to US$96.98.

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