LONDON -- STR's preliminary February 2018 data for hotels in Melbourne, Australia, indicates growth across the key performance metrics.

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

  • Supply: +2.2%
  • Demand: +3.5%
  • Occupancy: +1.2% to 88.8%
  • Average daily rate (ADR): +0.3% to AUD191.08
  • Revenue per available room (RevPAR): +1.5% to AUD169.72

STR analysts note that the month looks to be Melbourne's first February with strictly positive year-over-year comparisons since 2015. Increased domestic travel could be suggested as a reason behind the summer season performance, as household income and spending are each up, according to the Australian Bureau of Statistics.

STR will release full February results later this month. The January edition of STR's Market Forecast and the 2017 Global Hotel Study are now available.

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