STR Global’s preliminary February data shows a positive trend for Sydney.
Based on STR Global daily data from February, preliminary data for Sydney includes:
* increases in supply (+2.2 percent) and demand (+3.9 percent);
* a 1.6-percent increase in occupancy to 90.6 percent;
* a 4.8-percent growth in average daily rate to AUD217.99;
* a 6.5-percent increase in revenue per available room to AUD197.40; and
* a 0.9-percent increase in RevPAR is expected in 2014.
“Sydney continued to grow RevPAR in February, setting a new high for the month since STR Global began tracking hotel performance for the market”, said Elizabeth Winkle, managing director of STR Global. “ADR has been driving the positive trend for the first two months of the year, and is expected to continue this performance for the rest of 2014”.
STR Global will release February 2014 results in two weeks. The February edition of the STR Global Hotel Market Forecast is available with immediate effect.
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.
Logos, product and company names mentioned are the property of their respective owners.