STR: Preliminary July data for Sydney hotels
LONDON—Sydney showed slightly higher hotel performance in July 2020 but the same significant level of year-over-year declines, according to preliminary data from STR.
Comparison with July 2019:
- Occupancy: -57.9% to 33.2%
- Average daily rate (ADR): -25.7% to AUD143.68
- Revenue per available room (RevPAR): -68.7% to AUD47.64
Accommodation of returning Australian travelers was the primary source of demand for the market. Leisure travelers provided some additional demand on weekends. July was the second consecutive month that occupancy and RevPAR were above 30% and AUD40.00, respectively.
A deep dive into Australia hotel performance, occupancy on the books and what to expect moving forward can be found here.
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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