STR: Melbourne hotel performance dips during COVID-19 outbreak
STR's preliminary data for Melbourne, Australia, shows lower hotel performance levels in February 2020 and the first week of March.
February preliminary data:
- 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.