November 10, 2020
Domestic market 'locked in' for the summer
Key Insights:
- In the first signs of recovery, all national markets recorded occupancy improvements in Q3 2020 relative to Q2 with the Gold Coast, Cairns, Darwin, Brisbane and Hobart experiencing the strongest rebounds.
- Annual RevPAR declined 33.9% to $90 for the year ending September 2020.
- National occupancy declined 29.8% to 51.7% for the year ending September 2020.
- ADR declined 5.9% to $175 for the year ending September 2020.
- No market registered positive annual RevPAR growth for the year ending September 2020.
- Domestic overnight trips for the year ending June 2020 reached 92.0 million, declining 19% on 2019.
- Domestic overnight spend for the year ending June was $63 billion, down 19% on 2019.
- Hotel sales volume for Q3 2020 was $289 million.
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Contact
Chinmay Chitale
Research Manager - CBRE Hotels
Head of Hotels Research
[email protected]
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