94.5% occupancy: Sydney hotels celebrate New Year’s Eve in style
Compared to December 2023, Sydney's hotel market saw notable year-over-year growth
Sydney’s hotel industry rang in 2025 with record-breaking performance, achieving unprecedented levels in average daily rate (ADR) and revenue per available room (RevPAR) on New Year’s Eve.
December 2024 snapshot
Compared to December 2023, Sydney’s hotel market saw notable year-over-year growth:
- Occupancy: 78.8 percent (+2.1 percent)
- ADR: AUD314.15 (+0.9 percent)
- RevPAR: AUD247.43 (+3.0 percent)
While the New Year’s Eve celebrations were the primary driver of this surge, other events also contributed to December’s strong performance. Notably, the first of four Crowded House concerts on December 4 saw a 93.5 percent occupancy rate, the second-highest of the month. Additionally, the night before New Year’s Eve, ADR and RevPAR reached AUD554.35 and AUD482.35, respectively.
Strong start to 2025
Looking ahead, CoStar’s Forward STAR data shows promising trends for January 2025. Occupancy rates are tracking six percentage points higher than the same time last year, with gains spread across most days rather than being tied to singular events.
Global perspective
CoStar’s extensive hotel performance data sample encompasses 85,000 properties and 11 million rooms worldwide, providing unmatched insights into global hospitality trends.
Sydney’s record-breaking New Year’s Eve performance underscores the city’s enduring appeal as a global destination and sets an optimistic tone for the year ahead.
About CoStar Group
As a leader in real estate analytics and online marketplaces, CoStar Group supports industries ranging from hospitality to residential and commercial real estate. With a robust portfolio that includes STR, Apartments.com, and LoopNet, CoStar continues to set the standard for market intelligence.
