Markets with stronger local demand will fare better.
Some of the key highlights include:
- Brisbane was the strongest performing market over the year to March 2020, albeit with RevPAR growth of just under 1%
- International visitor arrivals reached a new high of 8.7m for the year ending December 2019, an increase of only 0.2% on 2018
- Spending by domestic visitors for the year ending December 2019 was $80.7bn, up 12.4% on 2018, whilst overnight spend by international visitors was $31.4bn, up 4.0% on 2018
- Annual RevPAR declined nationally by 5.7% to $131 over the year to March 2020
- National occupancy declined 4.4% to 70.9% while ADR declined 1.4% to $184 over the same period
- Hotel sales volume for Q1 2020 ~$100 million
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Research Manager - CBRE Hotels
Head of Hotels Research