LONDON—Amid increased COVID-19 cases and a slow return to office, Sydney’s hotel industry reported a marginal occupancy increase from the prior month, but lower rates, according to preliminary February 2022 data from STR.
- Occupancy: 41.7%
- Average daily rate (ADR): AUD211.42
- Revenue per available room (RevPAR): AUD88.21
While occupancy increased slightly, the market’s absolute ADR and RevPAR levels fell month over month. When indexed to 2019, RevPAR was just 35% of 2019 levels.
STR’s latest Forward STAR data shows improving occupancy over 2021, with an increase in both March (+50%) and April (+43%) levels.
All of STR’s COVID-19 analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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