Article Summary: Sydney hotels reported occupancy dipped 1.4% to 81% in December, according to preliminary STR data. ADR decreased 1.1% to 245.93 Australian dollars ($176.99) and RevPAR fell 2.5% to AU$199.23 ($143.40).
Sydney hotels reported occupancy dipped 1.4% to 81% in December, according to preliminary STR data. ADR decreased 1.1% to 245.93 Australian dollars ($176.99) and RevPAR fell 2.5% to AU$199.23 ($143.40).
Primary Category: Other Reports
LONDON—STR’s preliminary December 2018 data for hotels in Sydney, Australia, indicates performance declines.
Based on daily data from December, Sydney reported the following in year-over-year comparisons:
• Supply: +3.0%
• Demand: +1.5%
• Occupancy: -1.4% to 81.0%
• Average daily rate (ADR): -1.1% to AUD245.93
• Revenue per available room (RevPAR): -2.5% to AUD199.23
Performance was affected by supply continuing to outpace demand (room nights sold), however, the absolute occupancy level was the fourth-highest in the market since 2000. Daily data shows the highest absolute ADR and RevPAR levels for the month were recorded 29-31 December, but these levels were lower when compared with 2017.
STR will release full December results later this month.
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Headline: STR: Preliminary December data for Sydney hotels
Article Date: 1/14/2019
Article Time: 10:50:00 AM