Performance was affected by supply continuing to outpace demand (room nights sold), however, the absolute occupancy level was the fourth-highest in the market since 2000.
LONDON—STR’s preliminary December 2018 data for hotels in Sydney, Australia, indicates performance declines.
Based on daily data from December, Sydney reported the following in year-over-year comparisons:
- Supply: +3.0%
- Demand: +1.5%
- Occupancy: -1.4% to 81.0%
- Average daily rate (ADR): -1.1% to AUD245.93
- Revenue per available room (RevPAR): -2.5% to AUD199.23
Performance was affected by supply continuing to outpace demand (room nights sold), however, the absolute occupancy level was the fourth-highest in the market since 2000. Daily data shows the highest absolute ADR and RevPAR levels for the month were recorded 29-31 December, but these levels were lower when compared with 2017.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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