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”.