ARLINGTON, Va. – The Ashes Tour boosted hotel performance in Perth and Brisbane, while forward-booking levels are peaking above 95% in Adelaide, according to data from CoStar, a global leading provider of online real estate marketplaces, information and analytics in the property markets.
Perth hosted the Ashes on the first Test of their tour between 21-25 November, with hotel performance peaking on the second night across each of the three key performance metrics: occupancy (96.0%), ADR (AUD409.36) and RevPAR (AUD393.03). The ADR and RevPAR levels were the market’s highest on record, with year-over-year growth of 46.9% and 50.3%, respectively.
The second Test took place in Brisbane between 4-8 December, with thehighest occupancy level seen on the first night, at 90.3%. The highest ADR (AUD406.16) and RevPAR (AUD363.85) were posted on the third night, up 55.7% and 74.4%, respectively.
Impacted by COVID, the last time the English toured Australia for the Ashes was in December 2021 and January 2022, with occupancy (88.8%) and RevPAR (AUD210.78) peaking in Hobart on the first night of the fifth Test (Friday, 14 January 2022). That night, Hobart posted ADR at AUD237.45. The highest ADR level was recorded in Adelaide on the second night of the second Test (Friday, 17 December 2021) at AUD253.30.
The third Test kicks off in Adelaide on Wednesday, 17 December, with booking levels peaking on the first night, at 96.1% (as of 8 December). The fourth and fifth Tests are taking place in Melbourne and Sydney, with the highest occupancy on the books falling on Saturday, 27 December (84.6%) and Sunday, 4 January (61.3%), respectively.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises more than 90,000 properties and 11.8 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with thirteen million average monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
This news release includes “forward-looking statements” including, without limitation, statements regarding CoStar’s expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that future media events will not sustain an increase in future occupancy rates. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2023 and Forms 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2023, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Karolina Capova
Media Relations Executive – STR
CoStar
