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STR: Preliminary June data for Melbourne hotels

July 14, 2017 Hotel Trends No Comments Email Email

STR’s preliminary June 2017 data for Melbourne, Australia, indicates a slight dip in occupancy, but an increase in rates.
http://www.granmonte.com/

Based on daily data from June, Melbourne reported the following in year-over-year comparisons:

  • Supply: +4.2%
  • Demand: +3.5%
  • Occupancy: -0.7% to 78.3%
  • Average daily rate (ADR): +2.7% to AUD176.10
  • Revenue per available room (RevPAR): +2.0% to AUD137.88

STR analysts attribute the occupancy decline to substantial supply growth. Demand performance also remained healthy in the market. On Friday, 9 June, Melbourne hosted an international friendly soccer match between Brazil and Argentina, resulting in significant occupancy growth (+9.5%) and a double-digit rise in ADR (+29.9%) compared with the same day last year.

STR will release actual June 2017 results later this month.

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