STR: Preliminary October data for Sydney hotels
 
STR: Preliminary October data for Sydney hotels
12 NOVEMBER 2018 10:23 AM

Sydney hotels reported hotel occupancy dipped 1.8% to 84.9% in October, according to preliminary monthly STR data. ADR rose just 0.3% to 240.14 Australian dollars ($173.07) and RevPAR declined 1.5% to AU$203.93 ($146.98).

LONDON—STR’s preliminary October 2018 data for hotels in Sydney, Australia, indicates an occupancy-driven performance decline.

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

• Supply: +3.5%
• Demand: +1.7%
• Occupancy: -1.8% to 84.9%
• Average daily rate (ADR): +0.3% to AUD240.14
• Revenue per available room (RevPAR): -1.5% to AUD203.93

According to STR analysts, performance was affected by new supply continuing to outpace demand (room nights sold). Sibos 2018, held 22-25 October, produced the best performing week with Wednesday, 24 October achieving 95.9% occupancy and RevPAR of AUD281.94.

STR will release full October results later this month.

Media Contact:

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

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