Sydney Hotel Performance
Sydney Hotels Saw Improved Performance in April
CoStar Group | May 15, 2024
WASHINGTON – 15 May 2024 – Sydney's hotel industry recorded year-over-year increases in each of the three key performance metrics, according to April preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. April 2024 (year-over-year % change): Occupancy: 72.6% (+7.1%) Average daily rate (ADR): AUD247.70 (+0.2%) Revenue per available room (RevPAR): AUD179.86 (+7.3%) The market’s highest daily occupancy levels were seen on the night of the first IMA MEAPAC Summit held in Sydney (Wednesday, 10 April: 86.7%), closely followed by th...
Record-High Room Rates in Melbourne, Sydney Driven by the Eras Tour
CoStar Group | March 12, 2024
WASHINGTON – 12 March 2024 – Boosted by Taylor Swift’s Eras Tour, the hotel industries in both Sydney and Melbourne posted their highest average daily rate (ADR) for any month on record, according to February preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Melbourne February 2024 (year-over-year % change): Occupancy: 78.1% (+8.5%) Average daily rate (ADR): AUD244.80 (+11.4%) Revenue per available room (RevPAR): AUD191.18 (+20.9%) Melbourne’s daily occupancy levels remained above the 70.0% mark throughout the month ...
Sydney Hotels Posted Record-High Room Rates in December
CoStar Group | January 16, 2024
WASHINGTON – 16 January 2024 – Helped by New Year’s Eve, Sydney’s hotel industry recorded its highest monthly average daily rate (ADR) on record, according to December preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. December 2023 (year-over-year % change): Occupancy: 77.1% (+9.9%) Average daily rate (ADR): AUD313.27 (+4.8%) Revenue per available room (RevPAR): AUD241.66 (+15.3%) According to the daily data, Sydney hotels achieved their highest occupancy level on New Year’s Eve (94.0%), followed by Saturday, 2 Decem...
Sydney WorldPride 2023 Pushed Hotel Performance to Pre-Pandemic Levels
STR | March 15, 2023
SYDNEY—Sydney WorldPride 2023 drove the market’s hotel average daily rate (ADR) and revenue per available room (RevPAR) above pre-pandemic levels, while occupancy remained slightly below 2019, according to preliminary data from STR. During the 17-day event, Sydney’s highest occupancy levels were recorded on Saturday, 4 March (95.8%) and Saturday, 25 February (95.4%). Throughout the period, daily occupancy remained above 80% with only three days falling below that mark. “WorldPride was held for the first time in the Southern Hemisphere with Sydney hosting a series of events across two weeks to commemorate LGBTQIA+ pr...
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....
