Hotels in Melbourne Report Significant Performance Levels for December 2017
Hotels in Melbourne, Australia, reported positive year-over-year performance in December, according to preliminary data from STR. Occupancy grew .8% to 81.8%, ADR rose 2.1% to 192.94 Australian dollars ($152.21) and RevPAR increased 3% to 157.80 Australian dollars ($124.49).
STRs preliminary December 2017 data for hotels in Melbourne, Australia, indicates significant performance levels.
Based on daily data from December, Melbourne reported the following in year-over-year comparisons:
- Supply: +2.3%
- Demand: +3.2%
- Occupancy: +0.8% to 81.8%
- Average daily rate (ADR): +2.1% to AUD192.94
- Revenue per available room (RevPAR): +3.0% to AUD157.80
STR analysts note that performance was helped by the holiday season. Demand, occupancy and ADR reached their highest absolute values for any December on record in the market.
STR will release full December and total-year 2017 results later this month. The January edition of STRs market forecast will be available by the end of the 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