On New Year's Eve, Melbourne reported occupancy above 90.0% and ADR in excess of AUD320.00, while Singapore had the second-lowest actual occupancy level of the year behind June 2016 (76.5%), and the lowest absolute occupancy for a December since 2009 (77.1%).
LONDON — STR‘s preliminary December 2016 data for Melbourne, Australia, indicates overall performance growth driven by rate, and for Singapore indicates strong supply growth and low occupancy levels.
Based on daily data from December, Melbourne reported the following in year-over-year comparisons:
- Supply: +3.2%
- Demand: +1.5%
- Occupancy: -1.7% to 80.8%
- Average daily rate (ADR): +3.1% to AUD190.50
- Revenue per available room (RevPAR): +1.4% to AUD153.91
STR analysts attribute the market’s monthly decline in occupancy to supply growth.
On New Year’s Eve, Melbourne reported occupancy above 90.0% and ADR in excess of AUD320.00. ADR for that Saturday night was roughly 4% higher than 31 December 2015, which fell on a Thursday.
During the week of the cricket Boxing Day Test, which kicked off on 26 December, the market recorded mostly flat RevPAR performance even with an increase in ADR. STR analysts anticipate that next December will show significantly stronger performance, with the English cricket team touring for the Ashes series between November 2017 and January 2018.
Singapore reported the following in year-over-year comparisons:
- Supply: +4.1%
- Demand: +2.1%
- Occupancy: -2.0% to 77.2%
- Average daily rate (ADR): -2.7% to SGD281.70
- Revenue per available room (RevPAR): -4.7% to SGD217.44
This would be Singapore’s second-lowest actual occupancy level of the year behind June 2016 (76.5%), and the lowest absolute occupancy for a December since 2009 (77.1%). STR analysts note that the country’s hotels continue to struggle with fewer major events driving tourism and a consistent imbalance in supply and demand growth. Additionally, an increase in the number of rooms in the Upper Midscale class has altered the market landscape with more rooms available at higher prices. December marked Singapore’s 10th consecutive month of year-over-year ADR declines.
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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