May Events Help Drive Record Result For Sydney Hotels

Rego desk with beer tap at Paramount House Hotel, Sydney.

Demand continues to outstrip supply in Sydney with the city recording an all-time performance high during May. Hotel analytics company STR reports that Sydney room numbers increased 3.3% over the previous year, customers demand was up 5.6% and occupancy grew 2.3% to 84.3%.

It’s great news for a number of new properties that opened over the past 12 months, including Paramount House Hotel in inner-city Surry Hills (pictured), recently named by Gourmet Traveller magazine as its ‘Hotel of the Year’.

STR says events were a big driver of demand during May, including Mercedes-Benz Fashion Week Australia  and Vivid Sydney.

As a result Sydney’s average daily rate rose 7.7% to AUD214.48 and Revenue per available room gained 10.1%, reaching AUD180.85.

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