STR: Preliminary October data for Melbourne hotels
 
STR: Preliminary October data for Melbourne hotels
13 NOVEMBER 2017 8:41 AM

Melbourne reported negative performance across all three metrics in October 2017, according to preliminary STR data. Occupancy decreased 1.5% to 86.2%, ADR dropped 5.5% to 191.62 Australian dollars ($146.38) and RevPAR declined 6.9% to AU$165.09 ($126.10).

LONDON—STR’s preliminary October 2017 data for hotels in Melbourne, Australia, indicates performance affected by supply growth.

Based on daily data from October, Melbourne reported the following in year-over-year comparisons:

  • Supply: +2.7%
  • Demand: +1.1%
  • Occupancy: -1.5% to 86.2%
  • Average daily rate (ADR): -5.5% at AUD191.62
  • Revenue per available room (RevPAR): -6.9% to AUD165.09

STR analysts note that the supply and demand growth imbalance negatively affected occupancy and ADR. Additionally, an earlier Australian Football League Grand Final (30 September 2017 versus 1 October 2016) was a contributing factor to the year-over-year decline in ADR.

STR will release full October 2017 results later this month.

Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.