Market Report Sydney

Sydney Hotel Industry Reports 13.4 Percent RevPAR Drop for July 2018

According to preliminary data from STR, Sydney's hotel occupancy declined 7% to 80.5% in July. ADR dropped 6.9% to 194.05 Australian dollars ($141.84) and RevPAR decreased 13.4% to AU$156.12 ($114.12).
Sydney, Australia - Photo by Keith Zhu on Unsplash
Sydney Hotel Industry Reports 13.4 Percent RevPAR Drop for July 2018

STR

STR’s preliminary July 2018 data for hotels in Sydney, Australia, indicates performance affected by significant supply growth and less market events.    

Based on daily data from July, Sydney reported the following in year-over-year comparisons:

  • Supply: +5.1%
  • Demand: -2.2%
  • Occupancy: -7.0% to 80.5%
  • Average daily rate (ADR): -6.9% to AUD194.05
  • Revenue per available room (RevPAR): -13.4% to AUD156.120

July was the second consecutive month with year-over-year declines in each of the three key performance metrics. STR analysts note the absolute ADR level was the lowest for any month since September 2014, while absolute occupancy was the lowest for a July since 2009.

The drop in demand was partly due to fewer significant events during the month, which also translated into lower rates. For example, in July 2017, Arsenal played two matches in Sydney on its summer tour. 

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.



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