Hobart is currently the hottest ticket in the accommodation landscape, with hotels tactfully pushing hotel rates higher to improve yields over the month of February 2019, new data from STR reveals.
Suggesting hoteliers are making the most of the current supply rate ahead of new openings in the coming years, strong rate improvement on a year earlier has seen the Tasmanian capital’s hoteliers record a 10 per cent jump on its Average Daily Rate (ADR) and an impressive 13.2 increase in Revenue Per Available Room (RevPAR). Over the month, ADR in the city climbed from $191.76 a year ago to $210.99 in 2019, while RevPAR jumped from $174.95 to $198.02.
Occupancy was a primary factor for the increase in the wake of supply, growing from 91.2 per cent to 93.9 per cent for the month.
Canberra was the only other major capital to post gains in all three major metrics (Occupancy, ADR and RevPAR), with levels up 2 per cent, 4.1 per cent and 6.2 per cent respectively.
Results in the major capitals were steady, and while Melbourne saw strong growth in ADR and RevPAR, occupancy was more modest with a 0.8 per cent gain. Sydney went in the other direction, posting falls of -0.7 per cent occupancy, while ADR was down -2.8 per cent and RevPAR down -3.5 per cent. In the west, Perth’s numbers indicated rates may have been a problem, as occupancy slumped -3.9 per cent while ADR was only down -0.2 per cent.