STR’s preliminary December 2018 data for hotels in Sydney, Australia, indicates performance declines.
Based on daily data from December, Sydney reported the following in year-over-year comparisons:
- Supply: +3.0%
- Demand: +1.5%
- Occupancy: -1.4% to 81.0%
- Average daily rate (ADR): -1.1% to AUD245.93
- Revenue per available room (RevPAR): -2.5% to AUD199.23
Performance was affected by supply continuing to outpace demand (room nights sold), however, the absolute occupancy level was the fourth-highest in the market since 2000. Daily data shows the highest absolute ADR and RevPAR levels for the month were recorded 29-31 December, but these levels were lower when compared with 2017.
STR will release full December results later this month.