Australia Hotels MarketView - Q1 2017

Momentum broadens beyond leisure markets

KEY POINTS:

Annual RevPAR growth for the year ending March 2017 was 2.3% reaching $140.
ADR increased 1.2% to reach $185 for the year ending March 2017.
National occupancy jumped to 75.8% recording growth of 1.1%.
Top performers were Cairns and Canberra who registered annual RevPAR increases of 10% and 6% for the year ending March 2017.
International visitor arrivals reached a record high of 7.6m, an increase of 11% on 2015, and domestic overnight trips were up 4% to 90.7m.
Spending by international visitors in the year to December 2016 was $25.8bn, up 11% on 2015, whilst overnight spend on domestic trips increased 5% to $60.9bn.
Hotel sales volume for the first quarter of 2017 were just over $300m.
 
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CONTACT

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