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Hotels in Jeddah, Saudi Arabia, reported occupancy dropped 17.4% to 45.7% in November, according to preliminary STR data. ADR decreased 9.7% to 702.62 Saudi Arabian riyals ($187.37) and RevPAR fell 25.4% to 321.06 Saudi Arabian riyals ($85.62).
Hong Kong's hotel market reported occupancy rose 1.4% to 94.3% in November, according to preliminary monthly data from STR. ADR increased 5.6% to 1,603.28 Hong Kong dollars ($205.39) and RevPAR jumped 7.1% to HK$1,511.50 ($193.63).
In October, the reporting carriers posted an on-time arrival rate of 84.8 percent, slightly down from the 85.5 percent on-time rate in October 2016, but up from the 83.6 percent mark in September 2017.
Occupancy slipped slightly due to significant supply growth outpacing demand. Regardless, the market eclipsed 90% occupancy for the second November in a row. STR analysts also note that November is the 40th consecutive month of year-over-year ADR growth in Sydney.
At the Hotel Investment Conference held in Hong Kong in October we convened a session together with a panel of industry experts to discuss this topic. The audience consisted of over 230 conference participants. Judging by the number of attending participants, there was clearly significant interest in the topic.