STR’s preliminary August 2016 data for Melbourne, Australia, indicates flat year-over-year performance.
Based on daily data from August, Melbourne reported the following in year-over-year comparisons:
- increases in supply (+2.7%) and demand (+2.7%);
- flat occupancy at 82.9%;
- a 0.1% decrease in average daily rate (ADR) to AUD178.20; and
- flat revenue per available room (RevPAR) at AUD147.72.
Saturday nights during the month resulted in ADR growth, which falls more in line with the overall trend of 2016. However, lack of weekday ADR growth subdued gains for the market despite solid occupancy.
STR will release actual August 2016 results later this month. The August edition of STR’s Market Forecast is now available.