sydney hotels
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...
STR: Sydney Hotels Recorded Highest Performance of Pandemic-Era in November
STR | December 12, 2022
LONDON—Sydney’s hotel industry recorded its highest performance levels of the pandemic-era, according to preliminary November 2022 data from STR. Occupancy: 79.8% Average daily rate (ADR): AUD273.07 Revenue per available room (RevPAR): AUD217.79 The market’s ADR level was the highest for any month on record except for September 2000, when it hosted the Sydney Olympics. Occupancy and RevPAR were the highest since November 2019 and February 2019, respectively. Despite the pandemic-era high, occupancy remained 7.9% below the 2019 comparable. When looking at daily data, Sydney recorded 27 days of occupancy levels above 70%...
