Australian Open drives up hotel occupancy

Melbourne records highest room rates of pandemic era

A clear representation of event-driven demand, the Australian Open has helped Melbourne’s hotel industry report its highest room rates of the pandemic-era, according to preliminary January 2022 data released by STR.

Hotel occupancy rose to 40.8 percent while average daily rate (ADR) rose to $204.21 and revenue per available room (RevPAR) increased to $83.28.

The market’s absolute ADR level was its highest since November 2019, while the occupancy and RevPAR levels were slightly lower compared with the month prior.

January’s result clearly underlines the impact a city’s hosting of a major event can have for its hotel sector as Melbourne performance is pushed more by domestic leisure travel and less by hotel quarantine contribution.

Melbourne’s daily performance for the month peaked on January 22when occupancy reached 56.7 percent, ADR topped out at $249.08 and RevPAR reached $141.20, the statistics coincide with the fourth round of the Australian Open.

Looking ahead, STR’s latest Forward STAR data shows Melbourne’s highest occupancy on the books at 54.1 percent is Saturday, April9 during the Australian F1 Grand Prix weekend

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