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STR Global releases preliminary July 2014 data for Sydney

August 13, 2014 Statistics & Trends No Comments Email Email

STR Global’s preliminary July data indicate a mainly negative trend for Sydney.
Based on daily data from July, Sydney reported:
* an increase in supply (+0.8 percent) and a decline in demand (-1.2 percent);
* a 2.0-percent decrease in occupancy to 81.5 percent;
* a 5.4-percent decrease in average daily rate to AUD178.55; and
* a 7.3-percent decline in revenue per available room to AUD145.55.

“Sydney experienced the first decline in RevPAR since March 2013, as both occupancy and ADR decreased for the month”, said Elizabeth Winkle, managing director of STR Global. “ADR was the primary cause for the overall drop in hotel performance compared to June 2013, when the International Congress of Movement Disorder Society was held and produced strong rates for the market”.

STR Global will release July 2014 results in two weeks. The August edition of the STR Global Hotel Market Forecast will be available by the end of this month.

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