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Mixed performance for Melbourne hotels in October

STR’s preliminary October 2017 data for hotels in Melbourne, Victoria, has indicated performance affected by supply growth.

Based on daily data from October, Melbourne reported the following in year-over-year comparisons:
-Supply: +2.7%
-Demand: +1.1%
-Occupancy: -1.5% to 86.2%
-Average daily rate (ADR): -5.5% at AUD191.62
-Revenue per available room (RevPAR): -6.9% to AUD165.09

STR analysts said the supply and demand growth imbalance negatively affected occupancy and ADR.

“Additionally, an earlier Australian Football League Grand Final (30 September 2017 versus 1 October 2016) was a contributing factor to the year-over-year decline in ADR,” STR analysts said.

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