Riyadh hotels post highest February occupancy since 2008
eHotelier
MARCH 23, 2023
Riyadh’s hotel occupancy was its highest for a February since 2008, according to preliminary data from STR.
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eHotelier
MARCH 23, 2023
Riyadh’s hotel occupancy was its highest for a February since 2008, according to preliminary data from STR.
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The previous project count high was Q2 2008 with 5,883 projects. The pipeline hit record project counts in Q4, with the addition of 260 projects and 21,287 rooms over the last quarter, a 9 percent increase in projects, and a 7 percent increase in rooms year-over-year (YOY).
Boutique Hotel News
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Graduate Hotels is owned by Adventurous Journeys (AJ) Capital Partners , a Nashville-based real estate developer, owner and operator, founded by Weprin in 2008. We can’t wait to finish this project and welcome in students, the neighbouring community and alums from near and far.” which will target the outdoor recreation industry.
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The hotel construction pipeline continues to grow at a moderate pace with current project counts 3% below and rooms 14% below the all-time high of 5,883 projects/785,547 rooms reached in Q2 2008.
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Up 9% by both projects and rooms year-over-year (YOY); project totals at Q1 ‘23 are just 338 projects, or 5.7%, behind the all-time high of 5,883 projects recorded in Q2 2008.At In the latest United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that construction pipeline projects in the U.S.
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