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STR Global releases preliminary March 2014 data for Sydney

April 14, 2014 Statistics & Trends No Comments Email Email

STR Global’s preliminary March data shows a positive trend for Sydney.

Based on STR Global daily data from March, preliminary data for Sydney includes:
* increases in supply (+2.2 percent) and demand (+4.4 percent);
* a 2.2-percent increase in occupancy to 87.9 percent;
* a 4.4-percent growth in average daily rate to AUD210.89; and
* a 6.7-percent increase in revenue per available room to AUD185.35.

“Sydney closed a fabulous first quarter, reporting record levels for RevPAR of any March since STR Global began tracking hotel performance for the market in 1995”, said Elizabeth Winkle, managing director of STR Global. “Strong demand translated into occupancy levels in excess of 85.0 percent and fuelled rate growth for the month, keeping ADR as a driving force behind this positive trend”.

STR Global will release March 2014 results in two weeks. The February edition of the STR Global Hotel Market Forecast is available now.

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