Sydney Hotels Absorb Olympian Increase In Room Supply

The supply of new rooms in Sydney during March increased 5% – the biggest growth spurt since the 2000 Olympics – however local hotels were still able to increase room rates despite a marginal fall in occupancy due to continuing strong demand. STR reports Sydney’s average March room rate exceeded $250, occupancy was 89% while RevPAR rose 0.8% to $226.

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