Australia's RevPAR growth continues in 2018
The most recent research released by Savills Hotels reveals that Australia's average RevPAR has seen an increase of 3.9%, with Darwin (up 18.3%), Cairns (up 6.9%) and the Gold Coast (up 6.5%) the stand out performers. 8 According to Savills most recent hotel research, Australia's average RevPAR has seen an increase 3.9%. The best RevPAR growth markets include Darwin (up 18.3%), Cairns (up 6.9%) and the Gold Coast (up 6.5%), with the worst being Hobart (down 9.2%). Sydney continues to outperform Australian markets with a RevPAR gap of $43+ over the next best market performer (Melbourne wide market). Sydney Luxury hotels achieved 91.4% Occ and $391 ADR, contributing to RevPAR growth of 3.8% to record $358 RevPAR, which is $47+ ahead of Melbourne’s Luxury market (93.3% Occ, $333 ADR and $311 RevPAR) Melbourne continues to struggle to grow RevPAR as new hotel supply and generic apartment product enters the market and Canberra falls moderately on ...