{"id":236265,"date":"2024-05-16T05:15:00","date_gmt":"2024-05-15T22:15:00","guid":{"rendered":"https:\/\/www.ttrweekly.com\/site\/?p=236265"},"modified":"2024-05-16T05:58:00","modified_gmt":"2024-05-15T22:58:00","slug":"sydney-hotels-report-april-gains","status":"publish","type":"post","link":"https:\/\/www.ttrweekly.com\/site\/2024\/05\/sydney-hotels-report-april-gains\/","title":{"rendered":"Sydney hotels report April gains"},"content":{"rendered":"\n<p>SINGAPORE, 16 May 2024: Sydney&#8217;s hotel industry recorded year-over-year increases in the three key performance metrics, according to April preliminary data from <a href=\"https:\/\/str.us11.list-manage.com\/track\/click?u=98de2a74ef2cba050d8bede8a&amp;id=67c1407997&amp;e=471a5969ca\">CoStar<\/a>.\u00a0<\/p>\n\n\n\n<p>CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" data-src=\"https:\/\/www.ttrweekly.com\/site\/wp-content\/uploads\/2022\/01\/sydney-city-600x320.jpg\" alt=\"\" class=\"wp-image-200441 lazyload\" style=\"--smush-placeholder-width: 600px; --smush-placeholder-aspect-ratio: 600\/320;width:560px;height:auto\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/figure>\n<\/div>\n\n\n<p><strong>April 2024 (year-over-year % change)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Occupancy: 72.6% (+7.1%)<\/li>\n\n\n\n<li>Average daily rate (ADR): AUD247.70 (+0.2%)<\/li>\n\n\n\n<li>Revenue per available room (RevPAR): AUD179.86 (+7.3%)<\/li>\n<\/ul>\n\n\n\n<p>The market\u2019s highest daily occupancy levels were seen on the night of the first IMA MEAPAC Summit held in Sydney (Wednesday, 10 April: 86.7%), closely followed by the night before the Summit (Tuesday, 9 April: 86.1%). The market\u2019s occupancy remained above the 60.0% mark throughout the month except for four days.&nbsp;<\/p>\n\n\n\n<p>In addition to the market\u2019s current growth trend, April benefited from a cleaner calendar with Easter and Anzac Day separated, thereby providing clear business weeks, which was not true in 2023. Sydney\u2019s ADR and RevPAR levels peaked on Saturday, 6 April, at AUD297.10 and AUD244.99, respectively.<\/p>\n\n\n\n<p>Looking ahead, forward occupancy on the books continues to run ahead of the 2023 pace for May and June, with 53% and 31% booked as of 6 May.&nbsp;<\/p>\n\n\n\n<p>For more information about the company and its products and services, please visit <a href=\"https:\/\/str.us11.list-manage.com\/track\/click?u=98de2a74ef2cba050d8bede8a&amp;id=2f0288a3d4&amp;e=471a5969ca\" target=\"_blank\" rel=\"noreferrer noopener\">www.costargroup.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE, 16 May 2024: Sydney&#8217;s hotel industry recorded year-over-year increases in the three key performance metrics, according to April preliminary data from CoStar.\u00a0 CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.&nbsp; April 2024 (year-over-year % change) The market\u2019s highest daily occupancy levels were seen on the [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4257,640],"tags":[],"class_list":{"0":"post-236265","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-asia-pacific","7":"category-hotels"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sydney hotels report April gains - TTR Weekly<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ttrweekly.com\/site\/2024\/05\/sydney-hotels-report-april-gains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sydney hotels report April gains - TTR Weekly\" \/>\n<meta property=\"og:description\" content=\"SINGAPORE, 16 May 2024: Sydney&#8217;s hotel industry recorded year-over-year increases in the three key performance metrics, according to April preliminary data from CoStar.\u00a0 CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.&nbsp; 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