Saturday, October 21, 2017

Preliminary February data in slight decline for Melbourne hotels

STR’s preliminary February 2017 data for Melbourne, Australia, indicates significant occupancy levels.

Based on daily data from February, Melbourne reported the following in year-over-year comparisons:

  • Supply: +2.8%
  • Demand: +2.2%
  • Occupancy: -0.6% to 88.1%
  • Average daily rate (ADR): -5.4% to AUD191.63
  • Revenue per available room (RevPAR): -5.9% to AUD168.89

Despite the slight decline, the absolute occupancy figure would be near the highest for a February on record in the market. STR analysts note that level as impressive considering significant supply growth, which also placed pressure on ADR.

STR will release actual February 2017 results later this month. The February edition of STR’s Market Forecast is now available.

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Official accommodation partner for Cirque du Soleil announced

AccorHotels has announced it will partner with TEG and TORUK - The First Flight by Cirque du Soleil, touring Australia and New Zealand for the first time this year and performing close to 100 shows.

But what does the AccorHotels/Mantra agreement really mean?

AccorHotels confirmed an agreement with Mantra Group late last week, inching towards  acquisition. Accomnews spoke with TAA, ACCC and AccorHotels about what this latest takeover news signals for the sector.  

Wily Irish Mammy versus bed bugs

“Lie down with dogs and you’ll rise with fleas,” that’s what Mammy likes to say when she spots the grubby mark of a bed bug!