Sydney Hotel Market
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...
STR: Sydney Hotel Rates Reached Pandemic-Era Highs in December
STR | January 11, 2022
LONDON — January 11, 2022 — Reflecting the beginning of summer and impact of the holiday season, Sydney’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary December 2021 data from STR. Occupancy: 45.0% Average daily rate (ADR): AUD236.64 Revenue per available room (RevPAR): AUD106.38 The market’s absolute ADR level was its highest for any month since December 2019, while occupancy and RevPAR were the highest since May and April 2021, respectively. On 31 December, Sydney’s ADR (AUD533.81) was the highest in the market since 31 December 2019 (AUD651.85), while RevPAR (AUD287....
