A submarket within a two-hour-drive radius from Greater Sydney has seen pronounced hotel performance declines from the ongoing bushfires in Australia.
Growth in hotel demand exceeded supply growth, both in November, and YTD, as evidenced by increases in both Guest Paid RevPAR and Occupancy.
In 2019, U.S. hotels posted flat occupancy growth (66.1%), ADR rose 1% to $131.21 and RevPAR increased 0.9% to $86.76 compared to 2018.
Hotel occupancy in Canada decreased 5.1% to 43.8% during the week of 5-11 January. ADR rose 0.4% to 141.23 Canadian dollars ($108.30), but RevPAR fell 4.8% to CA$61.81 ($47.39).