NYE RevPAR 2025​

NYE Premium Performance for Sydney Centre​

• Sydney Centre North CBD – 519%​
• Sydney Centre Midtown CBD – 345%​
• Sydney Centre ICC – 326%​
• Sydney Centre South CBD – 283%​

​5-Day NYE period Premium in Performance by Submarket​

• Sydney TR – 174%​
• Sydney Centre – 203%​
• Sydney West – 61%​
• Sydney Airport – 97%​
• Sydney North – 179%​
• Sydney East & South – 168%​

Sydney Marathon

In 2025, the Sydney Marathon became an Abbott World Marathon Major, elevating its status among the worlds marathon events.​

There were approximately 35,000 registered runners in 2025, 10,000 more than for the 2024 event.​

As such, the Sydney Marathon, already a very important annual event for the Sydney hotel market, became even more important in driving demand into the city’s hotel rooms, enabling strong event-driven compression over the period from Friday 29 August to Sunday 31 August 2025.​

Across all submarkets (except for Sydney West), RevPAR performance was significantly higher when compared to the Sydney Marathon 2024. We note an average growth of 40% for Sydney TR, driven by both occupancy (9% growth) and ADR (29%).​

RevPAR premium of 2025 Marathon over 2024​

• Sydney Centre – 49%​
• Sydney North – 41%​
• Sydney Airport – 41%​
• Sydney East & South – 25%​

City2Surf

The Sydney City2Surf is an annual event that has been held every year since 1971 and is held during the second weekend in August. Runners start in Hyde Park and finish at Bondi Beach.​

The race is held on a Sunday morning, and for our analysis, we have assumed that the event primarily drives demand over a 2-night period, the Saturday and Sunday nights.​

For the City2Surf event, we have analysed performance for the Sydney Centre market by class rating and compared the performance of this event to the typical Saturday and Sunday nights RevPAR performance for each respective market. The City2Surf drives both occupancy and ADR for the Sydney Centre market, particularly helping push performance levels on the Sunday night. Overall, RevPAR was boosted between 15% to 17% over the 2024 and 2025 City2Surf events.​

​RevPAR boost over 2024 and 2025 events for Sydney Centre​

• Luxury – 7% to 11%​
• Upper Upscale – 22%​
• Upscale – 15% to 17%​
• Upper Midscale – 21% to 22%​
• Economy & Midscale – 15% to 22%​

Mardi Gras

The Sydney Gay and Lesbian Mardi Gras is one of the world’s largest and most vibrant celebrations of LGBTQ+ pride, held annually in Sydney. Originating in 1978, it has since evolved into a globally recognized festival that blends activism with celebration. The event features a spectacular parade along Oxford Street, with elaborate floats, costumes, music, and performances, alongside a multi-week program of parties, cultural events, and community activities.​

The main Mardi Gras parade has been held on the first weekend in March in 2024 and 2025 and we have analysed demand for the Friday and Saturday nights of the event and compared this to the average for Friday and Saturday nights during March.​

The Sydney Mardi Gras has boosted RevPAR performance for the Sydney Centre market primarily through an ADR premium (15%) in 2024 and 2025, though there is also a marginal premium in occupancy (1%). The Sydney Mardi Gras drives RevPAR premiums more at the lower end of the market, with Economy & Midscale hotels recording a RevPAR premium of 23% on average over the last two years. This is followed by Upper Midscale hotels recording a RevPAR premium of 21% during Mardi Gras.​

RevPAR premium of Mardi Gras on average for 2024 and 2025​

• Luxury – 9%​
• Upper Upscale – 16%​
• Upscale – 16%​
• Upper Midscale – 21%​
• Economy & Midscale – 23%​

Concert vs sporting events index

Concert events in Sydney have generated significant demand for hotels over the last two years, with year-on-year growth in room night demand on event nights recording growth between 6% to 34%, depending on the day of week and time of year (i.e. limited to the additional capacity available in the market). The Taylor Swift concerts are the classic example, but Oasis, Metallica, AC/DC, Pink, and Coldplay also providing strong demand boosts. It is also not just demand growth increasing RevPAR, these events also drove strong increases in ADR levels.​

The various concert events provided particular benefit to the Sydney West market, with RevPAR growth at more than 100%, due to the location of Engie Stadium (Sydney’s Olympic stadium) in Homebush. For other submarket areas, RevPAR growth during concert events was lower, in the range of a 30% to 45% premium over the annual average, a still impressive number.​

Key sporting events, while still driving RevPAR growth, did not have the same impact on the market as did large concerts. More of the sporting events are domestic focused, such as the NRL Grand Final, State of Origin, and the City2Surf, and are regular annual events. This produces a different demand dynamic than one-off large concert events. Though we do note that international sporting events such as The Ashes and the British Lions tours, do induce significant international demand into the hotel market.​

Sporting events recorded a RevPAR premium across the Sydney hotel market of between 12% to 26% of the annual average.​

Concert events included:

• P!nk Concert (2024)
• Taylor Swift Concert (2024)
• Fred again Concert (2024)
• The Weeknd Concert (2024)
• Coldplay Concert (2024)
• The Kid Laroi Concert (2024)
• Pearl Jam Concert (2024)
• James Blunt Concert (2024)
• Dom Dolla Concert (2024)
• Luke Combs Concert (2025)
• Billie Eilish Concert (2025)
• Katy Perry Concert (2025)
• Keith Urban Concert (2025)
• Teddy Swims Concert (2025)
• James Blunt Concert (2025)
• Oasis Concert (2025)
• Metallica Concert (2025)
• Lenny Kravitz Concert (2025)
• AC/DC Concert (2025)
• Lady Gaga Concert (2025)
• Dom Dolla Concert (2025)

Sporting events included:

• State of Origin (2024 & 2025)
• City2surf (2024 & 2025)
• Marathon (2024 & 2025)
• NRL Grand Final (2024 & 2025)
• Cricket Test (2024 & 2025)
• Race of Champions (2025)
• HYROX (2025)
• Lions Rugby (2025)
• Monster Jam (2025)

Horwath HTL: Hospitality Advisory

Horwath HTL has been Australia’s pre-eminent hospitality industry advisory firm for over 30 years, providing hotel market forecasts, performance benchmarking reports, feasibility studies, performance improvement plans, acquisition due diligence studies, and expert witness reports.

Damien Little is a Director with Horwath HTL in Melbourne, bringing 22 years of consulting experience and a strong background in financial modelling. His extensive expertise spans a wide range of hospitality projects, having completed over 400 assignments across 17 countries in the Asia Pacific region.