STR: Preliminary November data for Sydney hotels
LONDON—Sydney’s hotel industry reported mostly flat performance compared with the previous month, according to preliminary November 2020 data from STR.
Year-over-year declines also came in at a similar level. Comparison with November 2019:
- Occupancy: 38.0% (-56.0%)
- Average daily rate (ADR): AUD154.75 (-33.6%)
- Revenue per available room (RevPAR): AUD58.84 (-70.8%)
Still limited largely to intrastate travel in November, there was a marginal difference from October’s absolute results. Alongside hotel quarantine, there were noticeable higher occupancies on weekends for staycation demand. However, Sydney still reports much lower occupancy than other locations across New South Wales.
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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