Melbourne saw occupancy, ADR and RevPAR all decline in November year-on-year according to preliminary data from STR.
The city’s occupancy rate reportedly decreased 3 percent, ADR dropped 0.4 percent and RevPAR decreased 3.3 percent. Supply increased 3.8 percent as did demand which went up 0.7 percent.
The data shows supply outpacing demand. Melbourne had a little of hotel openings throughout the year, but despite major events like Spring Racing Carnival, the demand did not match the supply.
