Melbourne hotels reported occupancy increased 1.2% to 88.8% in February, according to preliminary STR data. ADR rose 0.3% to 191.08 Australian dollars ($150.30), which pushed RevPAR up 1.5% to AU$169.72 ($133.50).
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.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.