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STR releases preliminary May 2016 data for Sydney

June 17, 2016 Hotel Trends No Comments Email Email

STR’s preliminary May 2016 data for Sydney, Australia, indicates strong rate growth. http://eventscrm.ttgasia.com/ttg2016/itcma/buyer/itcma_buyer.asp?code=GlobalTravelMedia

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

  • increases in supply (+3.0%) and demand (+2.1%);
  • a 0.9% decrease in occupancy to 82.6%;
  • a 3.4% increase in average daily rate (ADR) to AUD200.10; and
  • a 2.5% increase in revenue per available room (RevPAR) to AUD165.40.

According to STR analysts, Sydney’s hotels benefitted from a combination of events in May, most importantly the CeBIT 2016 business technology conference (2-4 May) and the Vivid Sydney cultural festival, which runs from late May through mid-June. On the opening Saturdayof Vivid Sydney (28 May), the market recorded a 7.6% increase in ADR compared with the same day in 2015.

STR will release May 2016 results later this month. The May edition of STR’s Market Forecast is now available.

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