According to CoStar’s preliminary data, Sydney’s hotel industry experienced significant year-over-year growth in August 2023, bolstered by the FIFA Women’s World Cup. Occupancy, ADR, and RevPAR metrics soared.
Helped by the FIFA Women’s World Cup, Sydney’s hotel industry recorded its highest monthly performance levels since March 2023, according to preliminary August 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
August 2023 (year-over-year % change):
- Occupancy: 80.7% (+26.0%)
- Average daily rate (ADR): AUD261.83 (+9.0%)
- Revenue per available room (RevPAR): AUD211.19 (+37.3%)
The FIFA Women’s World Cup took place between 20 July and 20 August in several locations across Australia and New Zealand, including the Stadium Australia in Sydney. When looking at daily data, the highest occupancy level in Sydney (94.8%) was seen on Wednesday, 16 August, the day of the Australia vs. England semifinal match. That level was followed closely by Saturday, 12 August (93.1%), the day of the quarterfinal match between England and Colombia.
Sydney’s daily occupancy levels remained above the 70% mark throughout the month apart from three days.