SYgle>Industry Information>Sydney Hotel Industry Reports 90.8 Percent Occupancy for November 2017

Sydney Hotel Industry Reports 90.8 Percent Occupancy for November 2017

Column: industry Tag: STR,Sydney Hotel,Hotel Industry Published: 2017-12-13 13:42 Source: Author:

STR’s preliminary November 2017 data for hotels in Sydney, Australia, indicates significant occupancy and rate levels.?

Based on daily data from November, Sydney reported the following in year-over-year comparisons:

·Supply: +3.7%

·Demand: +2.7%

·Occupancy: -1.0% to 90.8%

·Average daily rate (ADR): +4.6% to AUD252.42

·Revenue per available room (RevPAR): +3.6% to AUD229.22

Occupancy slipped slightly due to significant supply growth outpacing demand. Regardless, the market eclipsed 90% occupancy for the second November in a row. STR analysts also note that November is the 40th consecutive month of year-over-year ADR growth in Sydney.?

STR will release full November 2017 results later this month.

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England.

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