Australia Hotels MarketView - Q1 2019

Supply increases putting pressure on markets

 

KEY POINTS:
Annual RevPAR declined by 0.6% to $140 for the year ending March 2019.
ADR increased 0.5% to reach $188 for the year ending March 2019.
National occupancy declined by 1.0% to 74.7%.
Top performers were the Gold Coast and Hobart which registered annual RevPAR increases of 7.9% and 6.0% respectively for the year ending March 2019.
International visitor arrivals reached a record high of 8.5m for the year ending December 2018, an increase of 4.8% on 2017.
Spending by domestic visitors in the year to December 2018 was $72.7bn, up 12.7% on 2017, whilst overnight spend by international visitors was $30.2bn, up 8.0% on 2017.
Hotel sales volume for Q1 2019 was ~$500m.
 
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CONTACT

Danny Lee
Senior Research Manager - CBRE Australia
O: +61 2 9333 9097