Based on daily data from August, Sydney reported:
- increases in supply (+0.9%) and demand (+2.1%);
- a 1.1% increase in occupancy to 86.2%;
- a 9.0% increase in average daily rate to AUD203.38; and
- a 10.3% increase in revenue per available room to AUD175.23.
Demand growth in Sydney continues to outpace supply, and ADR performance in the market is supported through continued depreciation of the Australian dollar against the U.S. dollar.
STR Global will release August 2015 results during the week of 21 September. The August edition of the STR Global Hotel Market Forecast is now available.