STR releases preliminary August 2016 data for Melbourne
STR's preliminary August 2016 data for Melbourne, Australia, indicates flat year-over-year performance.Based on daily data from August, Melbourne reported the following in year-over-year comparisons:
LONDON -- STR's preliminary August 2016 data for Melbourne, Australia, indicates flat year-over-year performance.
Based on daily data from August, Melbourne reported the following in year-over-year comparisons:
- increases in supply (+2.7%) and demand (+2.7%);
- flat occupancy at 82.9%;
- a 0.1% decrease in average daily rate (ADR) to AUD178.20; and
- flat revenue per available room (RevPAR) at AUD147.72.
Saturday nights during the month resulted in ADR growth, which falls more in line with the overall trend of 2016. However, lack of weekday ADR growth subdued gains for the market despite solid occupancy.
STR will release actual August 2016 results later this month. The August edition of STR's Market Forecast is now available.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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