Australian Hotel Market Hanging In There…

LATEST stats from STR Global show that the Australian accommodation market held up reasonably well for the year to July 31. The average occupancy rate in major markets was 71.4%, down 4.9% over the previous 12 month period, while revenue per available room (RevPAR) was down by a similar margin to $165. Perth was the strongest market, Cairns the weakest. However, it’s important to note that rate performance really began falling away at the back end of this period. During July, for example, the average daily rate was $158 (down 8%) while RevPAR slumped 13% to $114.

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