LONDON -- STR's preliminary May 2018 data for hotels in Sydney, Australia, indicates strong demand and significant performance levels.

Based on daily data from May, Sydney reported the following in year-over-year comparisons:

  • Supply: +5.6%
  • Demand: +3.9%
  • Occupancy: +1.7% to 83%
  • Average daily rate (ADR): +0.6% to AUD215.64
  • Revenue per available room (RevPAR): +1.0% to AUD178.95

The absolute occupancy and RevPAR levels would be the second-highest for any May on record in the market. The absolute ADR value would be the highest for any May in STR’s Sydney database.

STR analysts note that performance was helped by a combination of events, such as Mercedes-Benz Fashion Week Australia (13-18 May) and Vivid Sydney (25 May-16 June). The opening week of Vivid Sydney 2018 coincided with occupancy growth of 4.6% and an ADR increase of 5.4% when compared with the same Vivid Sydney 2017 dates.

STR will release full May results later this month. The May edition of STR's Market Forecast is available now for Sydney and a host of other markets across the globe.

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