LONDON – Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR.
- Occupancy: 65.1%
- Average daily rate (ADR): AUD238.30
- Revenue per available room (RevPAR): AUD155.14
The market’s occupancy level was its highest since February 2020, while RevPAR was the highest since November 2019.
When looking at daily data, the night prior to race day (9 April) showed the highest performance levels for the month: occupancy (89.2%), ADR (AUD387.51) and RevPAR (AUD345.68). The Grand Prix weekend (8-10 April) was the only time during the month when daily ADR was over AUD300.
All of STR’s COVID-19 analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
Haley Luther
Communications Coordinator
+1 615 824 8664 ext. 3500
STR
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