JLL Reports Sydney’s CBD and Metropolitan Hotel Markets Experienced Record Year

JLL Australia | February 15, 2016

February 15, 2016 - Sydney's CBD and metropolitan hotel markets finished 2015 on a high with full year STR data reporting exceptional occupancies and average daily rate (ADR) levels across the board. Conducive to the respective markets' strong performance remains relatively benign supply pipelines, increases in major demand generators, growing airline capacity, and continued international and domestic visitation growth driven by the depreciation of the Australian dollar. In Sydney city, hotel occupancy increased marginally on existing highs to 88.2% for the full year, while ADR increased by 6.6% to $243. The five-star market fol...