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STR: Melbourne hotel rates lift in April

Melbourne’s hotels saw solid rate rises in April, according to the latest data from STR.

Based on daily data from April, Melbourne reported the following in year-over-year comparisons:

-Supply: +2.5%

-Demand: +3.1%

-Occupancy: +0.6% to 80.6%

-Average daily rate (ADR): +0.6% to AUD176.36

-Revenue per available room (RevPAR): +1.2% to AUD$142.20

STR says the absolute ADR level is the highest for an April in Melbourne since 2008.

The Easter calendar shift from April in 2017 to March in 2018 resulted in additional business weeks, which led to more consistent demand throughout the month, according to STR.

STR analysts said the Rip Curl Pro Bells Beach competition and the Melbourne International Comedy Festival, which occur in April each year, also helped demand remain steady.

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