Sydney’s hotel industry recorded its highest performance levels of the pandemic era, according to preliminary November 2022 data from STR.
- Occupancy: 79.8%
- Average daily rate (ADR): AUD273.07
- Revenue per available room (RevPAR): AUD217.79
The market’s ADR level was the highest for any month on record except for September 2000, when it hosted the Sydney Olympics. Occupancy and RevPAR were the highest since November 2019 and February 2019, respectively. Despite the pandemic-era high, occupancy remained 7.9% below 2019 comparable. When looking at daily data, Sydney recorded 27 days of occupancy levels above 70%, with the highest occupancy occurring on 12 November (90.5%) and 19 November (89.0%). STR’s occupancy-on-the-books data reflects continued improving occupancy through December and January. As of 5 December, the metric was at 79% for New Year’s Eve.