Sydney Hotel Industry Reports 86.9 Percent Occupancy for July 2017
Sydney’s hotels reported performance gains in July, according to preliminary STR data. Occupancy rose 4.2% to 86.9%, while ADR increased 4.7% to 206.90 Australian dollars ($163.28) and RevPAR increased 9.1% to AU$179.75 ($141.82).
STR’s preliminary July 2017 data for hotels in Sydney, Australia, indicates performance growth.
Based on daily data from July, Sydney reported the following in year-over-year comparisons:
- Supply: +2.9%
- Demand: +7.2%
- Occupancy: +4.2% to 86.9%
- Average Daily Rate (ADR): +4.7% to AUD206.90
- Revenue per Available Room (RevPAR): +9.1% to AUD179.75
The absolute occupancy level would be the highest for any July on record in Sydney. The absolute value in the metric was especially notable given the considerable supply growth in the market. Arsenal’s visit for soccer matches against Sydney FC (13 July) and the Western Sydney Wanderers (15 July) produced two standout performance nights for the month with RevPAR growth of 18.6% and 26.8%, respectively.
STR will release actual July 2017 results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Market Reports