Sydney Hotels Hit Record Highs on New Year’s Eve

• Sydney’s hotel room rates soared to an all-time high on New Year’s Eve, with a significant increase in average daily rate (ADR) and revenue per available room (RevPAR).
• January’s performance is also tracking ahead of the same period last year, indicating a positive trend in Sydney’s hotel industry.

Sydney’s hotel industry witnessed a record-breaking New Year’s Eve, with average daily rates (ADR) and revenue per available room (RevPAR) reaching all-time highs, according to preliminary data from CoStar.

The occupancy rate for December 2024 was 78.8%, marking a 2.1% increase year-over-year. The ADR for the same month was AUD314.15, a 0.9% increase, and RevPAR was AUD247.43, up by 3%.

Notably, on New Year’s Eve, the ADR and RevPAR hit record highs of AUD854.38 and AUD807.62, respectively, and the occupancy rate touched its highest December level at 94.5%. The second-highest occupancy, ADR, and RevPAR figures were recorded in early December and the night before New Year’s Eve.

The hotel industry’s performance in January is also promising, with preliminary data showing a 6-percentage point increase compared to the same period in 2024. This trend is not attributed to specific events but rather a general increase in occupancy across most days.