STR: Melbourne hotels post best performance of the pand…
The market’s ADR level was the highest for any month on record, while occupancy and RevPAR were the highest since February 2020 and November 2019, respectively.
ADELAIDE – Melbourne’s hotel performance reached a pandemic-era high, according to preliminary October 2022 data from STR.
- Occupancy: 69.9%
- Average daily rate (ADR): AUD232.07
- Revenue per available room (RevPAR): AUD162.21
The market’s ADR level was the highest for any month on record, while occupancy and RevPAR were the highest since February 2020 and November 2019, respectively.
While improved, occupancy remained 17.5% below the pre-pandemic comparable.
