ADELAIDE—Sydney’s monthly hotel performance reached a pandemic-era high, according to preliminary September 2022 data from STR.
- Occupancy: 71.8%
- Average daily rate (ADR): AUD252.13
- Revenue per available room (RevPAR): AUD181.05
The market’s occupancy and RevPAR levels were its highest since February 2020, while ADR was the highest since February 2018.
When looking at daily data, the highest occupancy levels were recorded on Saturdays: 17 September (89.4%), helped by the AFL preliminary final, and 24 September (88.1%), supported by a myriad of cultural and sporting events.
As of 4 October, STR’s Forward STAR data showed October occupancy on the books at 54%, illustrating a strong base for demand to continue upward.
More of STR’s analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a 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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