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STR: Preliminary May data for Sydney hotels

June 13, 2017 Hotel Trends No Comments Email Email

STR’s preliminary May 2017 data for Sydney, Australia, indicates significant performance growth. http://www.rembrandtbkk.com/

Based on daily data from May, Sydney reported the following in year-over-year comparisons:

  • Supply: +3.4%
  • Demand: +5.9%
  • Occupancy: +2.4% to 84.6%
  • Average daily rate (ADR): +7.9% to AUD215.06
  • Revenue per available room (RevPAR): +10.5% to AUD181.92

The absolute occupancy and ADR levels would be the highest on record for a May in Sydney.

STR analysts note that daily occupancy eclipsed 90% 10 times during the month with a high level of 96.9% on 3 May. Events driving demand during May included DesignBUILD (3-5 May), Australian Tourist Exchange (14-18 May), CeBIT Australia (23-25 May), Liverpool FC v Sydney FC (24 May) and opening week of Vivid Sydney (26 May-17 June).

STR will release actual May 2017 results later this month. The May edition of STR’s Market Forecast is now available.

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