STR’s preliminary June 2016 data for Melbourne, Australia, indicates strong occupancy and lower rates.
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,” STR says. “At the same time, lack of rate growth was consistent across the market.”
Final data for June 2016 will be released in late July, STR says.