STR Global’s preliminary November data shows a positive trend for Sydney.
Based on STR Global daily data from November, preliminary data for Sydney includes:
• increases in supply (+1.6 percent) and demand (+4.8 percent);
• a +3.2-percent increase in occupancy to 90.2 percent;
• a +5.4-percent growth in average daily rate to AUD211.93;
• a +8.7-percent increase in revenue per available room to AUD191.09; and
• RevPAR is expected to grow by +1.2 percent in 2014.
“Sydney continues its positive trend and this month the market posts record levels in all three performance measures since STR Global started tracking numbers for this market”, said Elizabeth Winkle, managing director of STR Global. “ADR is expected to drive the moderate RevPAR performance in 2014, while occupancy remains flat”.
STR Global will release November 2013 results in two weeks. The November 2013 edition of the STR Global Hotel Market Forecast is available now.
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.
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