LONDON—Sydney’s hotel industry reported steady occupancy, while room rates fell slightly from the prior month, according to preliminary May 2022 data from STR.
- Occupancy: 65.1%
- Average daily rate (ADR): AUD233.96
- Revenue per available room (RevPAR): AUD152.32
When looking at daily data, Tuesday and Wednesday occupancy levels hovered between 65% and 75% and outperformed most Saturdays, which shows an increase in business demand.
The highest daily occupancy level for the month (82.8%) came on 28 May, the first Saturday of Vivid Sydney 2022. The event also drove ADR to AUD305.18, which was up 10.7% from the Saturday prior.
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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