STR Global releases preliminary May 2015 data for Sydney and Singapore

LONDON — STR Global’s preliminary May 2015 data for Sydney, Australia, indicates mixed performance. Based on daily data from May, Sydney reported: - a decrease in supply (-0.8 percent) and an increase in demand (+3.6 percent); - a 4.4-percent increase in occupancy to 83.9 percent; - a 4.7-percent decrease in average daily rate to AUD180.47; and - a 0.5-percent decrease in revenue per available room to AUD151.36. Occupancy in Sydney increased in year-over-year comparisons as the city played host to CeBIT Australia and the A-League Grand Final. STR Global’s preliminary May data for Singapore indicates declines in two of the three key performance metrics. Based on daily data from May, Singapore reported: - increases in supply (+2.2 percent) and demand (+2.1 percent); - flat occupancy performance at 80.8 percent; - a 2.8-percent decrease in average daily rate to SGD282.73; and - a 2.8-percent decrease in revenue per available room to SGD228.38. Occupancy levels in Singapore went unchanged even with IMDEX Asia 2015 hosted at the Changi Exhibition Centre. STR Global will release May 2015 results in two weeks. The June edition of the STR Global Hotel Market Forecast is now available. sourced:traveldailynews.asia