STR: Preliminary June data for Melbourne hotels
LONDON—Melbourne showed slightly higher hotel performance in June 2020 but the same significant level of year-over-year declines, according to preliminary data from STR.
Comparison with June 2019:
- Occupancy: -53.4% to 34.0%
- Average daily rate (ADR): -29.4% to AUD119.14
- Revenue per available room (RevPAR): -67.1% to AUD40.52
Higher weekend demand from leisure travelers has helped push performance levels slightly above the consistent demand of quarantined returning travelers. June marked the first month that occupancy and RevPAR were above 30% and AUD40.00, respectively, since March.
July’s performance is likely to be negatively impacted as Melbourne and Victoria have reinstated stage 3 stay-at-home restrictions through mid-August. A look at forward occupancy in Melbourne and other capital cities 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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