STR: Sydney hotel occupancy stable in February amid COVID concerns
Amid increased COVID-19 cases and a slow return to office, Sydney’s hotel industry reported a marginal occupancy increase from the prior month, but lower rates, according to preliminary February 2022 data from STR.
Amid increased COVID-19 cases and a slow return to office, Sydney’s hotel industry reported a marginal occupancy increase from the prior month, but lower rates, according to preliminary February 2022 data from STR.
- Occupancy: 41.7%
- Average daily rate (ADR): AUD211.42
- Revenue per available room (RevPAR): AUD88.21
While occupancy increased slightly, the market’s absolute ADR and RevPAR levels fell month over month. When indexed to 2019, RevPAR was just 35% of 2019 levels.
STR’s latest Forward STAR data shows improving occupancy over 2021, with an increase in both March (+50%) and April (+43%) levels.
All of STR’s COVID-19 analysis can be found here.