STR | April 12, 2023

LONDON – Melbourne’s hotel occupancy was its highest for any month since February 2020, according to preliminary March data from STR.

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

The market’s ADR and RevPAR levels were its highest for any month on record, while occupancy remained 9.8% below the pre-pandemic comparable. Occupancy improvement has been somewhat limited by new supply growth (+5.3% over 2022).

Daily data shows that 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.

Further STR analysis can be found here.