Sydney Hotel ADR Highest Since February 2018
Skift Take
- STR said Sydney’s monthly hotel performance reached a pandemic-era high, according to preliminary September 2022 data from STR.
- Singapore international visitor arrivals continue to be strong but The Business Times said the momentum appears to have slowed down in recent months.
- InterContinental Sydney announced the completion of its extensive renovation program to welcome the hotel’s next chapter.
STR said Sydney’s monthly hotel performance reached a pandemic-era high, according to preliminary September 2022 data from STR. Occupancy was 71.8%, average daily rate was A$252.13 and RevPAR was A$181.05. The market’s occupancy and RevPAR levels were the highest since February 2020 while ADR was the highest since February 2018. The highest occupancy level was recorded on Saturdays with September 17 at 89.4%, helped by the AFL preliminary final. STR said their Forward STAR data showed October occupancy on the books in Sydney at 54%, illustrating a strong base for demand to continue upwards.
Singapore international visitor arrivals continue to be strong but The Business Times said the momentum appears to have slowed down in recent months. Analysts believe the city-state is on track to receive some six million visitors this year, in the upper band of the original forecast. Visitor arrivals in September hit 752,305, the eighth straight month
