Sydney hotel rates highest since Olympics

Sydney’s already booming hotel sector improved even further in September.

According to the latest preliminary data from STR Global, the city’s average daily rate (ADR) increased 6.3% to AU$194.98 (approx. US$141) – the highest of any September since the 2000 Olympic Games. And Sydney’s occupancy of 86.1% also marked the second highest September on record.

These two results allowed city-wide revenue per available room (revPAR) to jump 10.3% to AU$167.91.

STR Global said the rising ADR suggests increased domestic travel, driven by the school holidays in the second half of the month.

Demand for Sydney’s hotels rose 5.3% in September, ahead of a 1.4% increase in the city’s room supply.

sourced:traveldailynews.asia