STR: Preliminary January data for Sydney hotels
LONDON—Sydney’s hotel industry reported lower performance levels compared with the previous month, according to preliminary January 2021 data from STR.
Year-over-year declines remained significant in comparison with January 2020:
- Occupancy: 26.6% (-64.7%)
- Average daily rate (ADR): AUD191.20 (-7.3%)
- Revenue per available room (RevPAR): AUD50.89 (-67.2%)
The absolute occupancy level was the lowest for any month in Sydney since May 2020, while ADR was the highest for any month since March 2020. The lessened occupancy levels illustrate the continued impact of border controls on visiting the Greater Sydney region. When looking at daily data, the highest occupancy (39.8%) and RevPAR (AUD89.39) levels were seen on 23 January, helped by Australia Day (26 January).
As of 1 February, Sydney’s occupancy on the books for the next 90 days stands at just 9%, showing that continued low occupancy is to be expected over the coming months.
All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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