STR’s preliminary July 2016 data for Sydney, Australia, indicates positive performance driven by rate.
Based on daily data from July, Sydney reported the following in year-over-year comparisons:
- increases in supply (+3.4%) and demand (+3.5%);
- a 0.1% increase in occupancy to 83.4%;
- a 6.5% increase in average daily rate (ADR) to AUD198.20; and
- a 6.7% increase in revenue per available room (RevPAR) to AUD165.25.
STR analysts note that performance was helped by the Travel Industry Exhibition (18-19 July) and the Sydney International Boat Show (28 July to 1 August).
STR will release actual July 2016 results during the week of 22 August. The August edition of STR’s Market Forecast will be available at the end of the month.