Auckland experiences surge in demand while RevPAR in Sydney has now declined year over year for 14 consecutive months
Auckland RevPAR: -10.2% to NZD139.18
Sydney RevPAR: -3.6% to AUD170.91
Asia Pacific RevPAR: +1.5% to US$66.15
May 2019 vs. May 2018
Auckland, New Zealand
Occupancy: -4.2% to 78.2%
ADR: -6.3% to NZD178.04
RevPAR: -10.2% to NZD139.18
The decline in occupancy has been attributed to a surge in new supply (+5.0%). STR noted that slower demand was also visible during the weekends, whereas corporate weekday business held steady. Minimal growth in demand for the month (+0.5%) was largely a result of lost group demand (10 or more rooms sold together) in comparison with last May. That May decline was a continuation of recent trends, as Auckland has reported a group demand decrease of 15.5% for the first five months of the year. Transient demand (less than 10 rooms sold together) rose 3.2% during the same time period.
Occupancy: -0.9% to 81.8%
ADR: -2.7% to AUD208.98
RevPAR: -3.6% to AUD170.91
Performance decreases were largely attributed to supply (+1.8%), which outpaced growth in demand (+0.8%). STR noted that RevPAR in Sydney has now declined year over year for 14 consecutive months. STR and Tourism Economics’ latest forecast predicts a 2.6% decrease in RevPAR for 2019, after the metric dropped 1.0% in 2018.
Occupancy: +0.4% to 68.5%
ADR: +1.1% to US$96.53
RevPAR: +1.5% to US$66.15
STR will release full May results later this month.