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Commonwealth Games spurs Australia to occupancy record

The 2018 Commonwealth Games on the Gold Coast sparked a strong performance for hotels.

Australian hotels stood strong during the second quarter of 2018, led admirably by the Commonwealth Games on the Gold Coast, as the country recorded its highest Q2 occupancy level in history, STR Asia Pacific performance statistics show.

Nationwide occupancy rates for the quarter closed at 73.2% – the record being set despite a 2.1% increase in supply which came online in the year removed from the corresponding results a year earlier. Average Daily Rate (ADR) climbed 1.5% to $178.57 while RevPAR was up 2.8% to $130.71 per night.

Looking closer at the Gold Coast specifically, local RevPAR was an amazing success story for hotels and accommodation providers, spiking 24.2% to $138.38 for the quarter. This dominant result helped to rectify the ship, as major capital cities saw RevPAR declines due to the effect of supply growth. RevPAR in Perth fell 4.5% to $112.99, while Sydney dropped 2.1% to $174.70 and Hobart saw a 0.7% dip to $125.45 for the quarter.

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