Sydney’s hotel room rates reached all-time high on New Year’s Eve.

Sydney’s hotel industry posted record high average daily rate and revenue per available room on New Year’s Eve, according to December preliminary data from CoStar. 

December 2024 (year-over-year % change):

• Occupancy: 78.8% (+2.1%)
• ADR: AUD314.15 (+0.9%)
• RevPAR: AUD247.43 (+3.0%)

Following the market’s seasonal pattern, New Year’s Eve pushed Sydney’s daily ADR (AUD854.38) and RevPAR (AUD807.62) to record highs, while occupancy was 94.5% – the highest level in the metric in December. 

Of note, the second highest occupancy in December was seen on the first night of the four Crowded House performances–Wednesday, 4 December (93.5%), while the second-highest ADR and RevPAR levels were recorded the night before New Year’s Eve (Monday, 30 December), at AUD554.35 and AUD482.35, respectively.

Forward STAR data shows January performance is tracking ahead of the same time last year with a 6-percentage point difference to 2024, at 54% to 48%. This is gained through the majority of individual days holding higher occupancy and not attributed to an event outlier. 

Munich hotels posted record high December room rates

Munich’s hotel industry reported its highest December average daily rate (ADR) and revenue per available room (RevPAR) on record.

December 2024 (year-over-year % change):

• Occupancy: 68.3% (+10.9%)
• ADR: EUR127.79 (+7.0%)
• RevPAR: EUR87.31 (+18.7%)

In addition to the monthly records in ADR and RevPAR, Munich’s occupancy matched December 2018 as the highest for the month since 2014.

With Clinical Operations in Oncology Trials 2024 overlapping with the first two days of ISPO Winter 2024 (3-4 December), Munich’s daily hotel performance peaked on the first night of both events (Tuesday, 3 December) in each of the three key performance metrics: occupancy (96.8%), ADR (EUR164.90), RevPAR (EUR159.54). The daily occupancy level was the highest in the market since 9 April 2019.

The second highest daily performance levels were reported the following night (Wednesday, 4 December): occupancy (91.2%), ADR (EUR153.25) and RevPAR (EUR139.77).

Qatar hotel performance jumped for eventful December

Host of multiple events, Qatar’s hotel industry saw its highest December occupancy on record. 

December 2024 (year-over-year % change):

• Occupancy: 78.5% (+8.5%)
• Average daily rate (ADR): QAR489.03 (+15.0%)
• Revenue per available room (RevPAR): QAR384.02 (+24.8%)

Qatar’s daily occupancy levels peaked on Sunday, 1 December (91.9%), which was the final night of the Grand Prix race. The race pushed ADR and RevPAR levels to QAR619.18 and QAR568.95, respectively–the second highest levels posted that month. 

Both ADR and RevPAR peaked on New Year’s Eve at QAR663.56 and QAR606.98, respectively.

Qatar also hosted the FIFA International Cup 2024 Finals on Wednesday, 18 December, which pushed performance: occupancy (80.8%), ADR (QAR488.89) and RevPAR (QAR394.91).

Occupancy remained above the 70% mark throughout the month in all but one day–Sunday, 22 December (68.7%).

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