Adelaide hotels are reaping the benefit of a number of large-scale events across the city in 2024, according to recent data from CoStar.
Events such as the Adelaide Fringe and Santos Tour Down Under are credited with boosting hotel performance in the city, with further jumps expected for upcoming events including LIV Golf and the Asia Pacific Hotel Industry Conference and Exhibition (AHICE Asia Pacific), taking place at the Adelaide Oval on May 1-2.
During the Santos Tour Down Under, between January 12-21, hotel occupancy reached 78.1%, while revenue per available room (RevPAR) increased 11.4% year over year to AU$179.18.
Over the three-week period of the Adelaide Festival, March1-17, alongside Adelaide Fringe, which ran from February 16 – March 17, hotel occupancy was up 6% yoy to 82.5%. This elevated demand saw RevPAR rise 6.6% yoy to AU$191.25.
The AFL Gather Round returned to Adelaide for a second year, from April 4-7, and while year over year occupancy dripped slightly by 1.2%, average daily rate (ADR) jumped 15% to AU$372.77.
The increased room rate translated to a 145% lift to the long-term Thursday-Sunday April average.
“Adelaide continues to solidify its reputation as Australia’s Festival State, showcasing the power of homegrown events to drive significant tourism and economic benefits,” said STR’s regional director of the Pacific, Japan and Central South Asia, Matthew Burke.
“Building upon the success of previous years, the market’s major festivals and sporting events have become post-pandemic highlights, attracting domestic and international visitors, ultimately boosting hotel performance.”
LIV Golf returns to Adelaide this week, running from April 26-28, with hotel bookings tracking at a similar pace compared to last year – 78% during the corresponding Friday and Saturday nights and 62% on Sunday.