Australia Hotels MarketView - Q1 2016

Lower currency a boost for hotel market

KEY POINTS:

Annual RevPAR growth for March 2016 was 2.8% reaching $147 compared to $143 in 2015.
ADR increased 2.1% to reach $193 for the year to March 2016.
National occupancy jumped to 76.1% recording a growth of 0.7%.
Top performers were Cairns and the Gold Coast who are registering 15.3% and 11.3% increases in RevPAR for the year to March 2016.
Visitor arrivals reached record highs of 6.9m, an increase of 8% on 2014, and domestic overnight trips were up 7% to 87m.
Spending in Australia by international visitors reached a record high of $24.5bn, up 20% on 2014, whilst overnight spend on domestic trips increased 6% to $58bn.
Hotel sales volumes so far this year are just shy of $500m.
 
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CONTACT

Ben Martin-Henry
Research Manager - CBRE Australia
O: +61 2 9333 3205
E: ben.martin-henry@cbre.com.au