STR Global’s preliminary June 2015 data for Sydney, Australia, indicates positive results in the three key performance metrics.
Based on daily data from June, Sydney reported:
-A decrease in supply (-0.7 percent) and an increase in demand (+0.8 percent);
-A 1.5-percent increase in occupancy to 78.8 percent;
-A 0.5-percent increase in average daily rate to AUD185.55; and
-A 2.0-percent increase in revenue per available room to AUD146.28.
According to STR Global analysts, the Sydney hotel market saw a slight impact from Vivid Sydney as well as the Sydney Film Festival 2015.
June occupancy is the lowest for any month in Sydney thus far in 2015, although the market has seen year-over-year increases for each of the three performance measurements during each month in 2015.
STR Global will release June 2015 results later this month.