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As a city heavily reliant on corporate travellers, Riyadh properties suffered due to the drop in oil prices coupled with significant supply growth, up 8.9 percent in the first 10 months of the year.

Therefore, occupancy fell 7.2 percent to 56.2 percent, while ADR declines 3.6 percent to SAR796.30 (USD212.31).

Furthermore, RevPAR plummeted 10.6 percent to just SAR447.46 (USD119.30)