STR Global’s preliminary January data shows a positive trend for Sydney.
Based on STR Global daily data from January, preliminary data for Sydney includes:
* increases in supply (+2.1 percent) and demand (+6.9 percent);
* a 4.7-percent increase in occupancy to 80.5 percent;
* a 7.7-percent growth in average daily rate to AUD198.31; and
* a 12.8-percent increase in revenue per available room to AUD159.70.
“After two years of RevPAR decline in January, Sydney recorded double-digit growth in this measure, posting record levels of any January in the three key performance measures since STR Global began collecting data for this market”, said Elizabeth Winkle, managing director of STR Global. “The significant pickup in demand led to an increase in occupancy and rates, while the growth in ADR mainly drove the positive hotel performance”.
STR Global will release January 2014 results in two weeks. The next edition of the STR Global Hotel Market Forecast will be available by the end of February.
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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