Performance12 July 2017
LONDON — STR‘s preliminary June 2017 data for Melbourne, Australia, indicates a slight dip in occupancy, but an increase in rates.
Based on daily data from June, Melbourne reported the following in year-over-year comparisons:
- Supply: +4.2%
- Demand: +3.5%
- Occupancy: -0.7% to 78.3%
- Average daily rate (ADR): +2.7% to AUD176.10
- Revenue per available room (RevPAR): +2.0% to AUD137.88
STR analysts attribute the occupancy decline to substantial supply growth. Demand performance also remained healthy in the market. On Friday, 9 June, Melbourne hosted an international friendly soccer match between Brazil and Argentina, resulting in significant occupancy growth (+9.5%) and a double-digit rise in ADR (+29.9%) compared with the same day last year.
STR will release actual June 2017 results later this month.
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Alex Anstett
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STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.