Sydney’s hotel market performed exceptionally well during July, the latest preliminary data from STR shows.
Based on daily data from July, Sydney reported the following in year-over-year comparisons:
-Increases in supply (+3.4%) and demand (+3.5%);
-A 0.1% increase in occupancy to 83.4%;
-A 6.5% increase in average daily rate (ADR) to AUD$198.20; and
-A 6.7% increase in revenue per available room (RevPAR) to AUD$165.25.
STR analysts said performance was helped by the Travel Industry Exhibition (18-19 July) and the Sydney International Boat Show (28 July to 1 August).
STR will release actual July 2016 results during the week of 22 August.