Join us for an exclusive address of the STR industry in Melbourne with Roman Solyanyk, Beyond's Melbourne Market Expert and Revenue Consultant.
Supply growth creates a more competitive market, but events offer ways to capitalize on travel demand. As is similar to many cities across Australia, Melbourne has seen a rapid surge in supply of short term rental properties, resulting in a sharp decline in daily rates year over year and an impact on occupancy pacing. However, being a key hub for sporting and cultural events, there are still very strong opportunities to for the STR industry to thrive, with occupancy pacing showing strong surges around key future events like the F1 Grand Prix. Understanding the demand changes around key events in the market can play a pivotal role in getting the best returns for your business.