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STR Global releases preliminary September 2013 data for Sydney

Based on STR Global daily data from September, preliminary data for Sydney includes;

• increases in supply (2.5 %) and demand (3.7 %);

• a 1.1-% increase in occupancy to 81.9 %;

• a 1.3-% drop in average daily rate to $181.61; and

• a 0.2-% decrease in revenue per available room to $148.73.

“This month’s performance was mostly influenced by the Northern Sydney submarket that saw considerable increases in occupancy, however a drop in ADR”, said Elizabeth Winkle, managing director of STR Global. “Sydney witnessed solid occupancy levels in September, however not outperforming the record years 2010 and 2011”.

STR Global will release final September 2013 results in two weeks. Revised 2013 forecasts will be available in November.

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