2018 Australian Grand Prix is surging the hotel bookings at Melbourne

 Friday, March 23, 2018 


2018 Australian Grand PrixDue to 2018 Australian Grand Prix, the hotel booking in Melbourne is rising high. Previously, in 2017, there was a rise of 42% in hotel bookings in Australian Grand Prix.



The Over Grand Prix weekend last year was happened on 18th March -20 March.  The hotels in Melbourne has recorded the following performance figures in comparison with the rest of March 2017.



The occupancy in hotel bookings rises up to +5.6% to 93.3%, while the revenue generation of the hotels for 2018 event is 50.1% to AUD259.91.



It is data released by STR, Australia’s Melbourne has maximum number of tourism flow during the sports events.  There is a substantial occupancy and ADR uplifts while hosting the event last year.



Melbourne, however, typically operates at higher occupancy and ADR levels, so the performance increases during the Grand Prix are particularly noteworthy.



Recently in February 2018, Melbourne hotels recorded a 1.6% increase in occupancy to an actual level of 88.7% and a 0.8% increase in ADR to AUD189.17.



As a result, RevPAR grew 2.5% to AUD167.72. STR analysts note that increased domestic travel has helped boost the market’s hotel performance, as household income and spending are both up.


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