Article Summary: Preliminary May data from STR shows Sydney hotel occupancy fell 71.6% to 23.1%, ADR dropped 41.1% to 122.01 Australian dollars ($84.21) and RevPAR declined 83.3% to AU$28.19 ($19.46).
Preliminary May data from STR shows Sydney hotel occupancy fell 71.6% to 23.1%, ADR dropped 41.1% to 122.01 Australian dollars ($84.21) and RevPAR declined 83.3% to AU$28.19 ($19.46).
Primary Category: Other Reports
LONDON—Reflecting the ongoing impact of the COVID-19 pandemic, Sydney showed continued lower hotel performance in May 2020, according to preliminary data from STR.
Comparison with May 2019:
• Occupancy: -71.6% to 23.1%
• Average daily rate (ADR): -41.1% to AUD122.01
• Revenue per available room (RevPAR): -83.3% to AUD28.19
With travel restrictions still in place, rooms were primarily occupied by quarantined Australian travelers who had returned from trips. For the second consecutive month, occupancy and RevPAR were below 25% and AUD30.00, respectively.
All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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Headline: STR: Preliminary May data for Sydney hotels
Article Date: 6/11/2020
Article Time: 10:05:00 AM