STR’s preliminary November 2017 data for hotels in Sydney, Australia, indicates significant occupancy and rate levels.
Based on daily data from November, Sydney reported the following in year-over-year comparisons:
- Supply: +3.7%
- Demand: +2.7%
- Occupancy: -1.0% to 90.8%
- Average daily rate (ADR): +4.6% to AUD252.42
- Revenue per available room (RevPAR): +3.6% to AUD229.22
Occupancy slipped slightly due to significant supply growth outpacing demand. Regardless, the market eclipsed 90% occupancy for the second November in a row. STR analysts also note that November is the 40th consecutive month of year-over-year ADR growth in Sydney.
STR will release full November 2017 results later this month.
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