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Australia hotel performance for February 2017
Hotels in the Asia Pacific region reported mixed results in the three key performance metrics during February 2017, according to data from STR.
U.S. dollar constant currency, year-over-year comparisons:
Asia Pacific region:
- Occupancy: +8.0% to 68.7%
- Average daily rate (ADR): -5.0% to US$102.95
- Revenue per available room (RevPAR): +2.6% to US$70.67
Local currency, year-over-year comparisons:
Australia
- Occupancy: 0.0% to 77.8%
- ADR: -0.6% to AUD194.09
- RevPAR: -0.6% to AUD151.06
Australia’s performance was stable as supply and demand grew at an identical rate (+1.8%). At the market level, Sydney benefitted from the Chinese New Year as well as Tropfest (7-11 February) events. The market’s absolute RevPAR level (AUD231.57) was the second-highest on record behind only September 2000 (Summer Olympics).
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