Global News

Melbourne hotel occupancy reached 36-month high in March

According to preliminary March data from STR, Melbourne’s hotel occupancy was its highest for any month since February 2020.AC-Hotel-by-Marriott-Melbourne-Southbank

  • Occupancy: 77.3%
  • Average daily rate (ADR): AUD245.13
  • Revenue per available room (RevPAR): EUR189.47

The market’s ADR and RevPAR levels were highest for any month on record, while occupancy remained 9.8% below the pre-pandemic comparable. New supply growth has somewhat limited the occupancy improvement (+5.3% over 2022). Daily data shows the market recorded its highest occupancy level (90.7%) on Friday, 31 March – the first day of the Australian Grand Prix race weekend. The second and third highest occupancy levels were posted on 2 and 3 March, at 90.6% and 90.1%, respectively, helped by the Ed Sheeran tour.

Tags: 36-month, hotel occupancy, March, melbourne hotel


Related Articles

Related Courses

You might also like:

  • Duetto Trends
Join over 60,000 industry leaders.

Receive daily leadership insights and stay ahead of the competition.

Leading solution providers: