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STR: Melbourne hotels’ strong finish to 2017

STR’s preliminary December 2017 data for hotels in Melbourne, Victoria, indicates significant performance levels.

Based on daily data from December, Melbourne reported the following in year-over-year comparisons:
-Supply: +2.3%
-Demand: +3.2%
-Occupancy: +0.8% to 81.8%
-Average daily rate (ADR): +2.1% to AUD192.94
-Revenue per available room (RevPAR): +3.0% to AUD157.80

STR analysts noted that “performance was helped by the holiday season… demand, occupancy and ADR reached their highest absolute values for any December on record in the market”.

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