STR: Australian Grand Prix drove Melbourne hotel rates to record high in April
Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR.
LONDON - Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR.
- Occupancy: 65.1%
- Average daily rate (ADR): AUD238.30
- Revenue per available room (RevPAR): AUD155.14
The market’s occupancy level was its highest since February 2020, while RevPAR was the highest since November 2019.
When looking at daily data, the night prior to race day (9 April) showed the highest performance levels for the month: occupancy (89.2%), ADR (AUD387.51) and RevPAR (AUD345.68). The Grand Prix weekend (8-10 April) was the only time during the month when daily ADR was over AUD300.
All of STR’s COVID-19 analysis can be found here.
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