STR: Preliminary November data for Sydney and Hong Kong hotels

LONDON - STR’s preliminary November 2017 data for hotels in Sydney, Australia, indicates significant occupancy and rate levels, while November 2017 data for hotels in Hong Kong indicates significant performance levels.

Based on daily data from November, Sydney reported the following in year-over-year comparisons:

• Supply: +3.7%
• Demand: +2.7%
• Occupancy: -1.0% to 90.8%
• Average daily rate (ADR): +4.6% to AUD252.42
• Revenue per available room (RevPAR): +3.6% to AUD229.22

Occupancy slipped slightly due to significant supply growth outpacing demand. Regardless, the market eclipsed 90% occupancy for the second November in a row. STR analysts also note that November is the 40th consecutive month of year-over-year ADR growth in Sydney.

Based on daily data from November, Hong Kong reported the following in year-over-year comparisons:

• Supply: +3.1%
• Demand: +4.5%
• Occupancy: +1.4% to 94.3%
• Average daily rate (ADR): +5.6% to HKD1,603.28
• Revenue per available room (RevPAR): +7.1% to HKD1,511.50

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