Top Menu

Sydney hotels post solid numbers to start 2018

Sydney’s hotels have had a strong start to 2018, according to the latest data from STR.

STR’s preliminary January 2018 data for hotels in Sydney, released this week, indicates significant growth in both supply and demand.

Based on daily data from January 2018 and compared to the same period 12 months prior, Sydney’s hotels saw demand rise 3.2%, Average Daily Rate (ADR) climb 1.5% to AUD$222.18 and Revenue Per Available Room (RevPAR) jump 0.6% to AUD$180.43.

However, on the back of supply rising 4.2%, occupancy saw a minor decline (down 0.9% to 81.2%).

STR analysts said the 4.2% lift in supply (room nights available) caused the first year-over-year January occupancy decline in the market since 2013.

“Demand still grew without repeat business from Amway China and the Chinese New Year, each of which provided a performance boost in January 2017,” STR analysts said.

“Regardless, the absolute occupancy level was well above the market’s historical average, and ADR growth pushed an overall RevPAR increase for the month.”

, , ,

Comments are closed.

Powered by WordPress. Designed by Woo Themes