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RevPAR in Sydney Expected to Increase 2.1% in 2014

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STR Global’s preliminary May 2014 data indicates a positive trend for hotels in Sydney, with Sydney’s RevPAR expected to increase 2.1% during 2014.

 Based on daily data from May, hotels in Sydney reported:

- increases in supply (+1.2%) and demand (+5.0%);
- a 3.7% increase in occupancy to 80.8%;
- a 4.9% growth in ADR to A$191.50; and
- a 8.9% increase in RevPAR to A$154.78.

“Demand for Sydney picked up in May while supply growth continued to slow, leading to occupancy levels in excess of 80.0% for the fourth month in a row,” said Elizabeth Winkle, managing director of STR Global. “ADR growth remained strong, and at record levels, and is expected to drive an overall positive RevPAR performance for the remaining year.”

See other recent news regarding: Interviews, Pictures, Videos, STR, ADR, RevPAR, Sydney, Australia

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