WASHINGTON – 17 October 2024 – Events pushed Brisbane hotel average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs for September, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
September 2024 (year-over-year % change):Â
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Occupancy: 78.5% (+3.3%)
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ADR: AUD236.64 (+1.7%)
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RevPAR: AUD185.82 (+5.0%)
Noteworthy nights for hotels occurred during the Brisbane Festival, Brisbane Lions elimination AFL final, and consistent events at the Convention Centre.
On Saturday, 7 September, the market recorded its highest ADR (AUD288.01) and RevPAR (AUD251.70) for the month, driven primarily by visiting Carlton Blues fans attending the elimination AFL final and the sixth day of the Brisbane festival. That evening, Brisbane’s occupancy reached 87.4%, the second-highest daily occupancy level during the month.
Occupancy peaked on Wednesday, 18 September (87.9%), when the Brisbane festival overlapped with the second day of the National Bus & Coach Show.
Brisbane’s daily occupancy levels remained above the 70% mark except in all but four days during September.
Preliminary data through 9 October showed Brisbane’s occupancy at 4% points higher than same time last year (64%). That indicates occupancy growth is likely to continue through October.
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Additional Performance Data
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