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STR Global releases preliminary September 2014 data for Sydney

October 14, 2014 Statistics & Trends No Comments Email Email

STR Global’s preliminary September data indicate a positive trend for Sydney.
Based on daily data from September, Sydney reported:
• increases in supply (+0.5 percent) and demand (+2.2 percent);
• a 1.7-percent increase in occupancy to 83.1 percent;
• a 3.0-percent increase in average daily rate to AUD185.96; and
• a 4.8-percent increase in revenue per available room to AUD154.50.

“Sydney grew all the key performance indicators for the month of September”, said Elizabeth Winkle, managing director of STR Global. “Demand is outpacing supply growth, keeping occupancy levels above 80 percent, levels that the city is very attuned to. Occupancy has rarely dropped below 75 percent in the last three years.

“Sydney’s results for the month of September were in line with predictions, and the market is expected to finish the year with a 3.1-percent increase in RevPAR as forecasted in conjunction with Tourism Economics”, Winkle said.

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

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