Hotels in Sydney reported mixed resultsStaff Writer | October 12, 2017
Hotels in Sydney reported mixed performance results in September, according to preliminary data from STR.
Australia Preliminary September data for Sydney hotels
Based on daily data from September, Sydney reported in year-over-year comparisons supply: +2.3%; demand: +0.5%; occupancy: -1.7% to 84.5%; average daily rate (ADR): +4.9% to AUD215.72; and revenue per available room (RevPAR): +3.1% to AUD182.29.
Despite a decline in occupancy due to year-over-year supply growth, this was Sydney’s second-highest September RevPAR level on record, behind only the month of the 2000 Summer Olympics.
STR analysts note that Sydney hotels posted their steepest occupancy declines on weekends, indicating that leisure business was most affected by the increase in supply. ■