Melbourne Hotel Rates
STR: Australian Grand Prix Drove Melbourne Hotel Rates to Record High in April
STR | May 10, 2022
LONDON—Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR. Occupancy: 65.1% Average daily rate (ADR): AUD238.30 Revenue per available room (RevPAR): AUD155.14 The market’s occupancy level was its highest since February 2020, while RevPAR was the highest since November 2019. When looking at daily data, the night prior to race day (9 April) showed the highest performance levels for the month: occupancy (89.2%), ADR (AUD387.51) and RevPAR (AUD345.68). The Grand Prix weekend (8-10 April) was the only time durin...
STR: Melbourne Hotel Rates Reached Pandemic-Era Highs in January
STR | February 14, 2022
LONDON — February 14, 2022 — Helped by the Australian Open, Melbourne’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary January 2022 data from STR. Occupancy: 40.8% Average daily rate (ADR): AUD204.21 Revenue per available room (RevPAR): AUD83.28 The market’s absolute ADR level was its highest since November 2019, while the occupancy and RevPAR levels were slightly lower compared with the month prior. January’s result is a representation of event-driven demand, as Melbourne performance is pushed more by domestic leisure travel and less by hotel quarantine contribution. M...
STR: Melbourne Hotel Rates Reached Pandemic-Era Highs in November
STR | December 14, 2021
LONDON — December 14, 2021 — Reflecting the end of lockdown and eased travel restrictions, Melbourne’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary November 2021 data from STR. Occupancy: 33.9% Average daily rate (ADR): AUD169.06 Revenue per available room (RevPAR): AUD57.30 The market’s absolute ADR level was the highest since March 2020, while occupancy and RevPAR were the highest since May 2021. Looking ahead at the upcoming holiday season, STR’s latest Forward STAR data shows Melbourne’s highest occupancy on the books on 31 December (49.9%). All of STR’s COV...
