STR: Australian Grand Prix drove Melbourne hotel rates to record high in April

The market’s occupancy level was its highest since February 2020, while RevPAR was the highest since November 2019. London — Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR. Occupancy: 65.1% Average daily rate (ADR): AUD238.30  Revenue per available …

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Grand Prix set to drive Melbourne hotel occupancy to 2019 levels this weekend

Melbourne hotels are expecting a bumper weekend for the Australian Grand Prix to kickstart the Easter school holidays. According to data from STR, the Formula One event has catapulted Melbourne’s hotel occupancy on the books to its highest level since November 2019. As of April 4, average occupancy in the market between Thursday 7 to …

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Sydney looking to take the Australian Grand Prix away from Melbourne

Sydney are looking into the possibility of taking the Australian Grand Prix away from Melbourne – but it could not happen until 2026. Melbourne’s Albert Park has hosted Oceania’s only Formula 1 race every year it has taken place since 1996, although the 2020 and 2021 editions have had to be cancelled due to the …

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