STR: Sydney Hotel Occupancy Stable in February Amid COVID Concerns

STR | March 14, 2022

LONDON — March 14, 2022 — Amid increased COVID-19 cases and a slow return to office, Sydney’s hotel industry reported a marginal occupancy increase from the prior month, but lower rates, according to preliminary February 2022 data from STR. Occupancy: 41.7% Average daily rate (ADR): AUD211.42 Revenue per available room (RevPAR): AUD88.21   While occupancy increased slightly, the market’s absolute ADR and RevPAR levels fell month over month. When indexed to 2019, RevPAR was just 35% of 2019 levels. STR’s latest Forward STAR data shows improving occupancy over 2021, with an increase in both March (+50%) and...