Sydney hotels observed a 1% occupancy decrease to 90.8% in November, according to preliminary STR data. ADR, however, rose 4.6% to 252.42 Australian dollars ($191.86) and pushed RevPAR up 3.6% to AU$229.22 ($174.17).
LONDON—STR’s preliminary November 2017 data for hotels in Sydney, Australia, indicates significant occupancy and rate levels.
Based on daily data from November, Sydney reported the following in year-over-year comparisons:
- Supply: +3.7%
- Demand: +2.7%
- Occupancy: -1.0% to 90.8%
- Average daily rate (ADR): +4.6% to AUD252.42
- Revenue per available room (RevPAR): +3.6% to AUD229.22
Occupancy slipped slightly due to significant supply growth outpacing demand. Regardless, the market eclipsed 90% occupancy for the second November in a row. STR analysts also note that November is the 40th consecutive month of year-over-year ADR growth in Sydney.
STR will release full November 2017 results later this month.
Media & Communications Coordinator
+44 (0)207 922 1979
Director of Marketing, Research & Analysis
+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 firstname.lastname@example.org.