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Sydney - Prelim Sept STR Results

STR’s preliminary September 2019 data for hotels in Sydney indicates RevPAR has now declined year over year in the market for 18 consecutive months


Key points:

  • Occupancy: -3.5% to 79.6%

  • ADR: -2.6% to $205.44

  • RevPAR: -6.1% to $163.60


STR’s preliminary September 2019 data for hotels in Sydney, Australia, indicates low occupancy.


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


  • Supply: +1.6%

  • Demand: -2.0%

  • Occupancy: -3.5% to 79.6%

  • ADR: -2.6% to $205.44

  • RevPAR: -6.1% to $163.60


The absolute occupancy would be the lowest for a September in Sydney since 2009, and RevPAR has now declined year over year in the market for 18 consecutive months. STR analysts note that overall performance has been affected by steady supply outpacing demand. Additionally Sibos, a major financial services conference, was held in London this year, as opposed to the year prior when it was held in Sydney, which contributed to the declines in demand and occupancy.


STR will release full September results later this month.

  • Supply: +2.0%

  • Demand: -0.3%

  • Occupancy: -2.3% to 78.9%

  • ADR: +0.6% to $198

  • RevPAR: -1.7% to $156

Sydney has now seen 18 consecutive months of occupancy declines. However, July was the first month since October 2018 that Sydney posted an increase in ADR. STR analysts note that while overall performance was low, daily data showed that the highest performance increases were seen on 10 July, helped by the Holden State of Origin and the 3rd Annual Future Branches Summit (9-10 July).


STR will release full July results later this month.