STR’s preliminary December 2019 data for hotels in Melbourne, Australia, indicates higher performance led by demand.
Based on daily data from the month, Melbourne reported the following in year-over-year comparisons:
- Supply: +4.6%
- Demand: +7.7%
- Occupancy: +3.0% to 79.2%
- Average daily rate (ADR): +2.3% to AUD186.59
- Revenue per available room (RevPAR): +5.3% to AUD147.71
STR analysts note that multiple events helped push performance levels for the month: the PGA Tour Presidents Cup (9-15 December) and the Boxing Day Test match (26-30). New Year’s Eve also helped performance, with occupancy at an absolute level of 87.3% and ADR reaching AUD303.27 – the highest daily rate for the month.
STR will release full December results later this month.
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