STR: Preliminary February Data For Melbourne Hotels
Amid tightened restrictions, Melbourne's hotel industry reported lower performance levels compared with previous months, according to preliminary February 2021 data from STR.Year-over-year declines remained significant in comparison with February 2020:
LONDON — Amid tightened restrictions, Melbourne's hotel industry reported lower performance levels compared with previous months, according to preliminary February 2021 data from STR.
Year-over-year declines remained significant in comparison with February 2020:
- Occupancy: 36.3% (-54.2%)
- Average daily rate (ADR): AUD144.75 (-22.9%)
- Revenue per available room (RevPAR): AUD52.57 (-64.7%)
Each of the three key performance metrics were the lowest in the market since November 2020. Performance levels were affected by tightened restrictions across Victoria, despite the rescheduled Australian Open tennis tournament taking place in February. Much of the event was played in front of no crowds, and the state returned to "COVIDSafe" settings on Friday, 26 February, allowing travel within Victoria.
Occupancy on the books as of 1 March shows Melbourne at 23% for the next 90 days with pickup expected to increase as vaccinations roll out and state borders remain open.
All of STR's COVID-19 analysis can be found here.
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