RevPAR in Sydney Expected to Increase 2.1% in 2014

STR Global’s preliminary May 2014 data indicates a positive trend for hotels in Sydney, with Sydney’s RevPAR expected to increase 2.1% during 2014.

Based on daily data from May, hotels in Sydney reported:

- increases in supply (+1.2%) and demand (+5.0%);
- a 3.7% increase in occupancy to 80.8%;
- a 4.9% growth in ADR to A$191.50; and
- a 8.9% increase in RevPAR to A$154.78.

“Demand for Sydney picked up in May while supply growth continued to slow, leading to occupancy levels in excess of 80.0% for the fourth month in a row,” said Elizabeth Winkle, managing director of STR Global. “ADR growth remained strong, and at record levels, and is expected to drive an overall positive RevPAR performance for the remaining year.”