Australian Open an ace for Melbourne hotels
Hotels in Melbourne, Australia, experienced significant increases in occupancy and average daily rate during the Australian Open Tennis Championship, according to preliminary daily data from STR Global.
Melbourne’s occupancy during the tournament (18-31 January 2016) increased 16.3% from the week before the event started, reaching an average of 90.4%. Average daily rate was up 36.3% to AUD238.13.
The 2016 edition of the event built on the 2015 Australian Open’s impact on hotels in Melbourne.
During the full two weeks of the 2015 Australian Open, Melbourne experienced a 16.7% increase in occupancy to 87.6% and a 28.6% increase in ADR to $223.75 when compared with the week before the tournament started.
“The Australian Open brings business to Melbourne during what would normally be an off-peak month”, said Matthew Burke, STR Global’s business development manager for Australia. “Meetings and normal business travel activity usually kick in around the beginning of February, as most people in Australia take longer summer holiday vacations during January”.
Compared with 2015 market performance for the other three Grand Slam tournaments (the French Open in Paris, France; Wimbledon in London, England; and the U.S. Open in New York, New York), the Australian Open appears to make the largest impact on its respective host market. New York, London and Paris, however, usually maintain consistently high occupancy and ADR during the months of their respective events.
According to STR Global analysts, ADR appears to be the driving force for performance during the other three tournaments, while occupancy increases are much more prevalent during the Australian Open in Melbourne.
STR Global will continue to monitor this year’s Grand Slam tournaments and plans to release further data later in the year.
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