Sydney motels had a lot trigger to have a good time as 2023 drew to a detailed with document outcomes achieved within the month of December.
Helped by a New 12 months’s Eve Sydney’s lodge business, Sydney’s lodge business recorded its highest month-to-month common every day price (ADR) on document, in keeping with December preliminary information from property analytics platform CoStar.
In December 2023, Sydney motels achieved occupancy of 77.1%, up 9.9% yr over yr, with a median every day price (ADR) of AU$313.27, up 4.8%. Income per out there room (RevPAR) was AU$241.66, a 15.3% improve yr over yr.
Each day information reveals the best occupancy degree on New 12 months’s Eve of 94.0% – when ADR reached AU$776.69 – adopted carefully by Saturday, December 2, which reached 93.8%.
The market’s every day occupancy ranges remained above 60% all through the month excluding two days.
