For April Sydney Hotels Industry Reported Its Highest Occupancy and RevPAR in 14 Months

For April Sydney Hotels Industry Reported Its Highest Occupancy and RevPAR in 14 Months



The absolute occupancy and RevPAR levels were the highest in Sydney since February 2020, while ADR was the highest since March 2020. Elevated levels were due to continued improvement in both weekend and weekday performance.

Sydney, Australia - Photo by Keith Zhu on Unsplash

For April Sydney Hotels Industry Reported Its Highest Occupancy and RevPAR in 14 Months

Sydney’s hotel industry reported its highest occupancy and revenue per available room (RevPAR) in 14 months, according to preliminary April 2021 data from STR.

  • Occupancy: 56.7%
  • Average daily rate (ADR): AUD195.19
  • RevPAR: AUD110.76

The absolute occupancy and RevPAR levels were the highest in Sydney since February 2020, while ADR was the highest since March 2020. Elevated levels were due to continued improvement in both weekend and weekday performance. May is on track for similar performance, as forward occupancy is comparable to levels seen in April.

Year-over-year percentage increases are substantial because of the comparison with the months most affected by the pandemic in 2020.

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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.

Logos, product and company names mentioned are the property of their respective owners.

© 2021 Hotel News Resource



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