For December Melbourne’s Hotel Industry Reported Its Highest Performance Levels Since Early in the Pandemic

Melbourne Skyline - Photo by Louis Amal on Unsplash
For December Melbourne’s Hotel Industry Reported its Highest Performance Levels Since Early in the Pandemic

Melbourne hotel occupancy fell 48.3% to 40.9% in December, according to preliminary monthly data from STR. ADR decreased by 19.4% to 149.90 Australian dollars ($115.42) and RevPAR dropped 58.3% to AU$61.35 ($47.24).

Melbourne’s hotel industry reported its highest performance levels since early in the pandemic, according to preliminary December 2020 data from STR.

Year-over-year declines remained significant in comparison with December 2019:

• Occupancy: 40.9% (-48.3%)
• Average daily rate (ADR): AUD149.90 (-19.4%)
• Revenue per available room (RevPAR): AUD61.35 (-58.3%)

Each of the three key performance metrics were the highest in Melbourne since March. The market was helped by weekend leisure demand as the local economy began to reopen post-lockdown. When looking at daily data, the highest performance was seen on New Year’s Eve: occupancy (63.8%), ADR (AUD239.87) and RevPAR (AUD153.08).

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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.