Industry Update
Press Release17 March 2020

STR: Melbourne hotel performance dips during COVID-19 outbreak

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Str

STR's preliminary data for Melbourne, Australia, shows lower hotel performance levels in February 2020 and the first week of March.

February preliminary data:

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  • Occupancy: -10.9% to 79.0%
  • Average daily rate (ADR): -4.5% to AUD187.85
  • Revenue per available room (RevPAR): -14.9% to AUD148.45

Weekly data from 1-8 March 2020 (year-over-year comparisons):

  • Occupancy: -12.3% to 75.2%
  • ADR: -8.7% to AUD179.05
  • RevPAR: -19.9% to AUD134.73

As concerns have grown around COVID-19, STR analysts note that Melbourne reported occupancy, ADR and RevPAR declines for 35 consecutive days (3 February through 8 March). Cisco Live Melbourne (3-6 March) was among a significant number of events cancelled around the globe, which also affected performance comparisons during those days.

Early data for the weekend of 13-15 March shows a further COVID-19 impact, along with the last-minute cancellation of the Australian Grand Prix leading to double-digit declines in occupancy and RevPAR.

STR continues to monitor the coronavirus impact on the hotel industry. More information and analysis can be found here.

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