STR: Preliminary May data for Sydney hotels
STR's preliminary May 2018 data for hotels in Sydney, Australia, indicates strong demand and significant performance levels. Based on daily data from May, Sydney reported the following in year-over-year comparisons:
LONDON -- STR's preliminary May 2018 data for hotels in Sydney, Australia, indicates strong demand and significant performance levels.
Based on daily data from May, Sydney reported the following in year-over-year comparisons:
- Supply: +5.6%
- Demand: +3.9%
- Occupancy: +1.7% to 83%
- Average daily rate (ADR): +0.6% to AUD215.64
- Revenue per available room (RevPAR): +1.0% to AUD178.95
The absolute occupancy and RevPAR levels would be the second-highest for any May on record in the market. The absolute ADR value would be the highest for any May in STR’s Sydney database.
STR analysts note that performance was helped by a combination of events, such as Mercedes-Benz Fashion Week Australia (13-18 May) and Vivid Sydney (25 May-16 June). The opening week of Vivid Sydney 2018 coincided with occupancy growth of 4.6% and an ADR increase of 5.4% when compared with the same Vivid Sydney 2017 dates.
STR will release full May results later this month. The May edition of STR's Market Forecast is available now for Sydney and a host of other markets across the globe.
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.
Media Contact
Alex Anstett
Media & Communications Coordinator - STR [email protected]