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Record high room rates for Sydney hotels on NYE

Hotel Management

Sydney hotels pulled in record high average daily rate and revenue per available room on the night, according to December preliminary data from CoStar. The post Record high room rates for Sydney hotels on NYE appeared first on Hotel Management. CoStar reports occupancy levels of 78.8% for December 2024, up 2.1%

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Star Hotels snaps up Rydges Gold Coast Airport amid ongoing terminal upgrade

Hotel Management

CBRE says the Gold Coast tourism market is currently benefitting from a surge in inbound international travel and that domestic tourism is expected to uphold Average Daily Rate (ADR) stability. The post Star Hotels snaps up Rydges Gold Coast Airport amid ongoing terminal upgrade appeared first on Hotel Management.

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Rates drop in key New Zealand’s two largest cities

Hotel Management

This follows a record average daily rate of NZ$673 that was reached on 31 December 2024. In Wellington, occupancy and average daily rates are down due to the central Governments reduction in spending but we do not see this as a long-term shift and expect demand to bounce back in line with the broader New Zealand economy.

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Water Parks Boost APAC Hotels

Hotel Management

Properties equipped with aquatic attractions like water slides and play areas consistently outperform their counterparts in revenue metrics such as Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR). higher than regional averages. The post Water Parks Boost APAC Hotels appeared first on Hotel Management.

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Australian travellers drive RevPAR increase across The Tasman, Howarth HTL reports

Hotel Management

star segment recorded a significant 22% year-on-year increase in Average Daily Rate (ADR) with rates averaging NZ$405 for these premium properties, driving the overall 15% rise ADR for the market. Occupancy in this segment reached close to 78%.

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NSW hoteliers buoyed by AA market outlook

Hotel Management

General Managers and other senior staff from top hotels gathered heard from a variety of guest speakers about market conditions including the impact of cost-of-living pressures and global uncertainty on the travel and hotel landscape. Booking.com Market Team Manager, Keti Naumovski, said value for money is top of mind for travellers.

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CBRE predicts 2025 will be a ‘pivotal year’ for growth and investment in Australia’s hotel sector

Hotel Management

Following a surge in international arrivals and steady domestic demand last year, CBREs latest Hotels Australia Overview and Outlook report shows that the pace of growth will continue at a moderate rate in 2025. CBRE expects 2025 will be a pivotal year for growth and investment in Australias hotel sector.