STR: Preliminary December data for Melbourne hotels
STR’s preliminary December 2017 data for hotels in Melbourne, Australia, indicates significant performance levels.
Based on daily data from December, Melbourne reported the following in year-over-year comparisons:
- Supply: +2.3 percent
- Demand: +3.2 percent
- Occupancy: +0.8 percent to 81.8 percent
- Average daily rate (ADR): +2.1 percent to AUD192.94
- Revenue per available room (RevPAR): +3.0 percent to AUD157.80
STR analysts note that performance was helped by the holiday season. Demand, occupancy and ADR reached their highest absolute values for any December on record in the market.
STR will release full December and total-year 2017 results later this month. The January edition of STR’s market forecast will be available by the end of the month.