HOTEL, TOURISM & LEISURE
The Australian hotel sector is expected to rebound as domestic and international arrivals reach near pre-pandemic levels...
CBRE’s latest Hotels Australia Overview and Outlook found hotel performance remained strong, with increased occupancy rates recorded in all major cities...
Notably, Brisbane, Perth and the Gold Coast were the only markets to record pre-pandemic rates across all three performance indicators. Melbourne and...
Perth led the charge as the city recorded an increase to 79% in occupancy, up 4%. The market also saw ADR at $228, up 3%, as well as RevPAR at $180, up...
Growth in the Western Australian city was supported by strong corporate travel demand as well as increased arrivals from China and Singapore. A $2bn airport...
Travel to the state driven by the strength of the resource sector along with an increasing number of international flight routes ensures the Perth hotel operating market is...
More than two-thirds of the new routes connect to major East and Southeast Asian destination alongside new connections to America, Europe and...
This growth in international flights reflects a strategic response to pent-up demand from key markets, particularly Asia, and is expected to boost inbound tourism demand and...
Future infrastructure projects, including Sydney’s Western Sydney Airport expansion, Melbourne’s third runway and the $2billion redevelopment of...
CBRE notes easing interest rates in 2025 would improve investor confidence and lead to increased transaction volumes. Vendor/purchaser price gaps and...
Around 1,800 rooms were added to the markets with delays and pipeline shifts pushing some planned hotel openings to 2025, with 56% of...
In 2025, 5,700 rooms under construction and set to open within the next two years. A total of 31% of these new rooms will be in Melbourne followed by...