STR’s preliminary January 2018 data for hotels in Sydney, Australia, indicates significant growth in both supply and demand.
Based on daily data from January, Sydney reported the following in year-over-year comparisons:
- Supply: +4.2 percent
- Demand: +3.2 percent
- Occupancy: -0.9 percent to 81.2 percent
- Average daily rate (ADR): +1.5 percent to AUD222.18
- Revenue per available room (RevPAR): +0.6 percent to AUD180.43
Regardless, the absolute occupancy level was well above the market’s historical average, and ADR growth pushed an overall RevPAR increase for the month.
STR will release full January results later this month.