SYDNEY Year-end results from the Arthur Andersen Hotel Industry Benchmark Survey revealed that Sydney hotels led the way in Australia for 2000. Average room rates in Sydney were up 14.8% relative to 1999. This increase was attributed to rate premiums achieved during the Olympics and a consistent increase in room rates across most months of the year.
Rutger Smits, director/Hospitality & Leisure Services at Arthur Andersen/Australia, said that with the Olympics over, the Sydney market needs to refocus on core business activities and make a concerted effort to maximize the leverage obtained through last year s media spotlight. (3/1/01)