Hotels in Melbourne, Australia, reported occupancy dropped 69.1% to 26.3% in October, according to preliminary monthly data. ADR declined 47.2% to 99.39 Australian dollars ($72.06) and RevPAR dropped 83.7% to AU$26.12 ($18.94).

Melbourne Skyline - Photo by Louis Amal on Unsplash

Melbourne Showed Continued Lower Hotel Performance in October 2020

Reflecting the impact of a second lockdown, Melbourne showed continued lower hotel performance in October 2020, according to preliminary data from STR.

Year-over-year declines remained significant. Comparison with October 2019:

• Occupancy: -69.1% to 26.3%
• Average daily rate (ADR): -47.2% to AUD99.39
• Revenue per available room (RevPAR): -83.7% to AUD26.12

Travel restrictions of accommodation services remained in place for October with only “essential” travel permitted. Optimistically, the restrictions have begun to ease in Melbourne with the first steps beginning on 28 October, after 111 days of lockdown.

The absolute levels across the three metrics were the lowest for any month in STR’s Melbourne database. October was the second consecutive month that occupancy and RevPAR were below 30% and AUD30.00, respectively.

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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.

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© 2020 Hotel News Resource



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