STR: Preliminary March data for Sydney hotels
STR's preliminary March 2017 data for Sydney, Australia, indicates significant demand and occupancy levels. Based on daily data from March, Sydney reported the following in year-over-year comparisons:
LONDON -- STR's preliminary March 2017 data for Sydney, Australia, indicates significant demand and occupancy levels.
Based on daily data from March, Sydney reported the following in year-over-year comparisons:
- Supply: +4.2%
- Demand: +7.1%
- Occupancy: +2.8% to 91.2%
- Average daily rate (ADR): +5.8% to AUD242.92
- Revenue per available room (RevPAR): +8.8% to AUD221.55
The absolute occupancy level would be the highest for a March in Sydney since 1996. STR analysts note that performance levels received a boost from the Adele Live 2017 Australian Tour (10-11 March). Occupancy reached 95.2% and 98.1% on the two days, respectively. ADR was AUD260.67 on 10 March and AUD288.91 on 11 March.
Additionally, a favorable Easter calendar shift lifted performance growth in March. The opposite will occur in April.
STR will release actual March 2017 results later this month. The February 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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