Hotels in Sydney reported occupancy rose
STR’s preliminary May 2017 data for Sydney, Australia, indicates significant performance growth.
Based on daily data from May, Sydney reported the following in year-over-year comparisons: supply: +3.4%, demand: +5.9%, occupancy: +2.4% to 84.6%, average daily rate (ADR): +7.9% to AUD215.06, and revenue per available room (RevPAR): +10.5% to AUD181.92.
The absolute occupancy and ADR levels would be the highest on record for a May in Sydney.
STR analysts note that daily occupancy eclipsed 90% 10 times during the month with a high level of 96.9% on 3 May.
Events driving demand during May included DesignBUILD (3-5 May), Australian Tourist Exchange (14-18 May), CeBIT Australia (23-25 May), Liverpool FC v Sydney FC (24 May) and opening week of Vivid Sydney (26 May-17 June). ■