STR releases preliminary September 2016 data for Sydney and Singapore

17 Oct 2016  2036 | World Travel News

LONDON — On the one hand STR’s preliminary September 2016 data for Sydney, Australia, indicates a record occupancy level for the month, but on the other hand for Singapore indicates performance declines.
 
Based on daily data from September, Sydney reported the following in year-over-year comparisons:
increases in supply (+4.4%) and demand (+5.0%);
a 0.6% increase in occupancy to 86.0%;
a 6.2% increase in average daily rate (ADR) to AUD206.60; and
a 6.8% increase in revenue per available room (RevPAR) to AUD177.60.
 
Last September’s 85.7% occupancy level was the highest for a September in Sydney dating back to 1995—the first year in STR’s historical database for the market. In addition, the AUD206.60 absolute ADR level for September 2016 would be the highest for a September in Sydney outside of the 2000 Summer Olympics (AUD313.99). 
 
STR analysts note that the month’s performance was especially strong considering the market’s supply growth.
 
Based on daily data from September, Singapore reported the following in year-over-year comparisons:
increases in supply (+4.0%) and demand (+2.1%);
a 1.8% decrease in occupancy to 79.1%;
a 2.3% decrease in average daily rate (ADR) to SGD308.38; and
a 4.0% decrease in revenue per available room (RevPAR) to SGD244.02.
 
STR analysts note that the spread of the Zika virus, which led several countries to issue travel warnings regarding Singapore, likely affected the market’s hotel performance in September. During the Formula 1 Singapore Grand Prix on Sunday, 18 September, Singapore’s RevPAR was 11.0% lower when compared with the day of the event last year.    
sourced:traveldailynews.asia 

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