Sydney Hotel Industry Reports Lower Performance for November 2019
Sydney's hotel occupancy fell 3.4% to 86.5% in November, according to preliminary STR data, and a 3.9
Courtesy/News Source: hotelnewsresource.com
STR’s preliminary November 2019 data for hotels in Sydney, Australia, indicates lower performance.
Based on daily data from the month, Sydney reported the following in year-over-year comparisons:
Occupancy: -3.4% to 86.5%
Average daily rate (ADR): -3.9% to AUD233.61
Revenue per available room (RevPAR): -7.2% to AUD202.06
November marked the 23rd consecutive month of occupancy declines for the market, most of which were supply-driven. STR analysts partially attribute the decline in demand for November to significant bushfires in the country.
STR will release full November 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.