Hotel NewsNewsNews In Brief

Melbourne hotel occupancy reached 36-month high in March

The Australian Grand Prix and Ed Sheeran concert in Melbourne contributed to high hotel occupancy in March

Melbourne’s hotel occupancy was at its highest for any month since February 2020, according to preliminary March data from STR.

The market’s ADR and RevPAR levels were its highest for any month on record, while occupancy remained 9.8 percent below the pre-pandemic comparable. Occupancy improvement has been somewhat limited by new supply growth (+5.3 percent over 2022).

Our latest AccomNews print issue is available now. Read it HERE

  • Occupancy: 77.3 percent
  • Average daily rate (ADR): AUD245.13
  • Revenue per available room (RevPAR): EUR189.47

Daily data shows that the market recorded its highest occupancy level (90.7 percent) on Friday, March 31, which was the first day of the Australian Grand Prix race weekend.

The second and third highest occupancy levels were posted on March 2 and 3, at 90.6 percent and 90.1 percent, respectively, helped by the Ed Sheeran tour.

More of STR’s analysis can be found HERE

Related Articles

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Back to top button
WP Tumblr Auto Publish Powered By :
Would love your thoughts, please comment.x