STR: Preliminary November 2016 data for Sydney
STR's preliminary November 2016 data for Sydney, Australia, indicates significant levels of occupancy and average daily rate.Based on daily data from November, Sydney reported the following in year-over-year comparisons:
LONDON -- STR's preliminary November 2016 data for Sydney, Australia, indicates significant levels of occupancy and average daily rate.
Based on daily data from November, Sydney reported the following in year-over-year comparisons:
- increases in supply (+3.6%) and demand (+4.7%);
- a 1.1% increase in occupancy to 91.8%;
- a 3.4% increase in average daily rate (ADR) to AUD242.24; and
- a 4.5% increase in revenue per available room (RevPAR) to AUD222.33.
The absolute occupancy level would be the third highest for any month on record in Sydney after February 2010 and March 1996. The ADR level would be the third highest behind February 2016 and September 2000. Sydney experienced three straight nights (17-19 November) with occupancy above 90% as the market hosted a World Rally Championship event and Australian Open Golf.
ADR in the market has now grown year over year for 28 consecutive months. That trend has continued even with consistent supply growth (+3.3% year to date through October).
STR will release actual November 2016 results later this month. The November 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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