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Preliminary September data for Sydney hotels

12 October 2018
STR’s preliminary September 2018 data for hotels in Sydney, Australia, indicates performance declines.     
 
Based on daily data from September, Sydney reported the following in year-over-year comparisons: 
  • Supply: +5.7%
  • Demand: +3.9%
  • Occupancy: -1.7% to 82.8%
  • Average daily rate (ADR): -0.8% to AUD211.38
  • Revenue per available room (RevPAR): -2.5% to AUD174.95
 
According to STR analysts, the overall performance decline is primarily the result of new supply. September was the sixth consecutive month with year-over-year supply growth above 5% in the market. With subsequent occupancy declines, operators have lowered rates. On a positive note, solid demand growth kept occupancy above 80% and the 10-year average in the market.
 
STR will release full September results later this month.  

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STR’s preliminary September 2018 data for hotels in Sydney, Australia, indicates performance declines. 

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Date Posted: 12/10/2018
Number of Views: 241
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