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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.