August 2022 was a document month for Sydney motels with the business recording its highest month-to-month efficiency ranges since March 2023, based on preliminary information from property analytics platform CoStar.
Occupancy ranges for the month of August have been reported to be 80.7%, a 26.0% year-over-year enhance, whereas the Common day by day fee (ADR) was AU$261.83, up 9.0%.
Income per accessible room (RevPAR) was AU$211.19 within the month of August, representing a 37.3% year-over-year enhance.
The FIFA Ladies’s World Cup, which occurred between 20 July and 20 August, was a big driver for the month’s robust efficiency because of a number of of the video games being held in Sydney’s Accor Stadium.
Day by day information reveals the best occupancy degree in Sydney (94.8%) was seen on Wednesday August 16, the day of the Australia vs. England semifinal. The day of the quarterfinal match between England and Colombia on Saturday, August 12 noticed the second highest occupancy degree of 93.1%.
Sydney’s day by day occupancy ranges remained above the 70% mark all through the month except three days.
