Melbourne Hotels See Lift From Major Concerts
Skift Take
Melbourne's hotel performance in October surged due to concerts by Olivia Rodrigo and Coldplay, the Melbourne Marathon, and Melbourne Fashion Week, with occupancy, ADR, and RevPAR reaching record highs.
STR reported China hotel data for the week ended November 9. China hotel RevPAR was down -3.5% year over year, up against a +50% comp in the year ago week. ADR was down -4.6% for the week on a year-over-year basis, while occupancy was up +1.2%.
CoStar/STR said Melbourne, Australia reported strong hotel performance in October, lifted by multiple concerts by Olivia Rodrigo and Coldplay. Occupancy was up 4.5% to 75.3%, and the average daily rate was up 4.2% to A$221.36, resulting in RevPAR growth of 8.9% to A$166.61. According to the preliminary numbers, the night before Olivia Rodrigo's third concert on October 12 was the biggest day, with ADR ($A276.56_ and RevPAR (A$236.88) hitting the highest point.
The Melbourne Marathon took place the day after that concert, so that also contributed to the strong result. The highest occupancy levels of 86.8% and 88.9% were on October 22-23, the second and third days of Me
