Sydney hotel rates hit pandemic-era highs in December
LONDON – Reflecting the onset of summer and the impact of the holiday season, Sydney’s hospitality industry reported its highest pandemic-era room rates, according to preliminary December 2021 data from STR .
- Occupancy: 45.0%
- Average daily rate (ADR): 236.64 AUD
- Revenue per available room (RevPAR): AUD 106.38
The market’s absolute ADR level was the highest of any month since December 2019, while occupancy and RevPAR were the highest since May and April 2021, respectively.
As of December 31, Sydney’s ADR (AUD 533.81) was the highest in the market since December 31, 2019 (AUD 651.85), while RevPAR (AUD 287.57) was the highest since December 1. January 2020 (AUD$327.62). Additionally, daily occupancy for the month peaked at 65.3% on December 11.
Looking ahead, STR’s latest Forward STAR data shows Sydney’s highest occupancy rate in the books on January 15 (32.0%), demonstrating continued uncertainty and subsequent customer hesitancy to book too far in advance.
All of STR’s COVID-19 analyzes are available here.
STR provides premium benchmarking data, analysis and market intelligence for the global hospitality industry. Founded in 1985, STR operates in 15 countries with North American headquarters in Hendersonville, Tennessee, international headquarters in London, and Asia-Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of online commercial real estate information, analysis and marketplaces. For more information, please visit str.com and costargroup.com.
Rebeca Velez Minguez
+44 203 890 0056 ext. 0056