Jeddah hotels record 14% profit increase
Complex Made Simple

Jeddah hotels record 14% profit increase

Jeddah hotels record 14% profit increase

TRI Hospitality Consulting has said hotels in Jeddah have seen a 15% growth in RevPAR, driving a 13.8% profit growth in June, Saudi Gazette has reported. Revenue per available room (RevPAR) for the month surged to $193.62 leading to strong growth in profits in terms of gross operating profit per available room (GOPPAR) to $147.95. Average occupancy at four and five star chain hotels in the city reached 85.4%, up by 5.8%, with average room rates (ARR) increasing 7.2% to $226.63 during the month, compared with the same period last year, the report said.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved