STR’s preliminary April 2019 data for hotels in Melbourne indicates lower performance.
Based on daily data from the month, Melbourne reported the following in year-over-year comparisons:
- Supply: +4.0%
- Demand: +0.1%
- Occupancy: -3.7 to 77.5%
- Average daily rate (ADR): -2.3% to AUD171.98
- Revenue per available room (RevPAR): -6.0% to AUD133.29
The absolute occupancy and RevPAR levels would be the lowest for an April in Melbourne since 2013. STR analysts partially attribute the decrease in performance to Easter (21 April) and Anzac Day (25 April) occurring during the same week, which caused a decrease in travel. Additionally, the performance impact from last year’s World Congress on Nuclear Medicine and Biology (20-24 April 2018) negatively affected year-over-year comparisons.
STR will release full April results later this month.
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