Sydney hotel occupancy declines amid increased supply
New data from STR has indicated a drop in Sydney hotel occupancy for the month of January, with revenues down almost seven per cent compared with the same time last year.
"Sydney's high occupancy levels illustrative of strong underlying demand" - Knight Frank
According to leading hotel researcher STR Global, Sydney hotels currently enjoy occupancy of over 85%, the highest out of all major cities in Australia. This has largely been underpinned by strong demand for quality accommodation from tourists and business travellers.
