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STR: Preliminary November 2016 data for Sydney and Singapore

Sydney, Australia indicated significant levels of occupancy and average daily rate, but on the other side of the spectrum, Singapore indicated overall performance declines.

LONDON — STR’s preliminary November 2016 data for Sydney, Australia indicates significant levels of occupancy and average daily rate, but for Singapore indicates overall performance declines.
 
Based on daily data from November, Sydney reported the following in year-over-year comparisons:
  • increases in supply (+3.6%) and demand (+4.7%);
  • a 1.1% increase in occupancy to 91.8%;
  • a 3.4% increase in average daily rate (ADR) to AUD242.24; and
  • a 4.5% increase in revenue per available room (RevPAR) to AUD222.33.
The absolute occupancy level would be the third highest for any month on record in Sydney after February 2010 and March 1996. The ADR level would be the third highest behind February 2016 and September 2000. Sydney experienced three straight nights (17-19 November) with occupancy above 90% as the market hosted a World Rally Championship event and Australian Open Golf.
 
ADR in the market has now grown year over year for 28 consecutive months. That trend has continued even with consistent supply growth (+3.3% year to date through October). 
 
Singapore on the other, hand in the same period, reported the following in year-over-year comparisons:
  • increases in supply (+4.0) and demand (+2.2%);
  • a 1.8% decrease in occupancy to 81.1%;
  • a 4.2% decrease in average daily rate (ADR) to SGD273.49; and
  • a 5.9% decrease in revenue per available room (RevPAR) to SGD221.74.
The absolute occupancy level would fall in line with the country’s average through the first 10 months of 2016 (81.7%). STR analysts note that the market has struggled since concerns over the Zika virus surfaced in August. Consistent supply growth (+3.5% year to date through October) and fewer major events in the market also have played a role in lower performance. November 2016 would mark the lowest absolute RevPAR level for a November in Singapore since 2009.

 

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Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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