LONDON -- STR's preliminary June 2017 data for Melbourne, Australia, indicates a slight dip in occupancy, but an increase in rates.

Based on daily data from June, Melbourne reported the following in year-over-year comparisons:

  • Supply: +4.2%
  • Demand: +3.5%
  • Occupancy: -0.7% to 78.3%
  • Average daily rate (ADR): +2.7% to AUD176.10
  • Revenue per available room (RevPAR): +2.0% to AUD137.88

STR analysts attribute the occupancy decline to substantial supply growth. Demand performance also remained healthy in the market. On Friday, 9 June, Melbourne hosted an international friendly soccer match between Brazil and Argentina, resulting in significant occupancy growth (+9.5%) and a double-digit rise in ADR (+29.9%) compared with the same day last year.

STR will release actual June 2017 results later this month.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Alex Anstett
Media & Communications Coordinator - STR
STR