Based on daily data from June, Melbourne reported the following in year-over-year comparisons:
- increases in supply (+1.7%) and demand (+4.2%);
- a 2.4% increase in occupancy to 78.8%;
- a 1.3% decrease in average daily rate (ADR) to AUD172.90; and
- a 1.1% increase in revenue per available room (RevPAR) to AUD136.17.
The absolute occupancy would be a June record for Melbourne. At the same time, lack of rate growth was consistent across the market.
STR will release actual June 2016 results during the week of 25 July.