STR’s preliminary December 2019 data for hotels in Melbourne, Australia, indicates higher performance led by demand.
Based on daily data from the month, Melbourne reported the following in year-over-year comparisons:
- Supply: +4.6%
- Demand: +7.7%
- Occupancy: +3.0% to 79.2%
- Average daily rate (ADR): +2.3% to AUD186.59
- Revenue per available room (RevPAR): +5.3% to AUD147.71
STR analysts note that multiple events helped push performance levels for the month: the PGA Tour Presidents Cup (9-15 December) and the Boxing Day Test match (26-30). New Year’s Eve also helped performance, with occupancy at an absolute level of 87.3% and ADR reaching AUD303.27 – the highest daily rate for the month.
STR will release full December results later this month.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.