Sydney keeps up strong growth in hotel sector: Colliers
Sydney and Melbourne retain the first and second ranks respectively in terms of revenue per available room (revPAR), according to Colliers International’s latest figures.
Sydney’s revPar grew 9.3 percent for the year up to July. The city also leads Melbourne in occupancy rate with nearly 90 percent occupancy rate, while the Victorian capital was in the high 80s.
Sydney also tops in the average daily rate, followed by Melbourne and the Gold Coast.
The hotel market snapshot also noted that Perth took the biggest fall in rankings, from third to sixth place.
Canberra was the biggest mover, from sixth to fourth.
