Welcome to the latest Savills Hotels Market Update
Savills is pleased to present the Q3/2019 Hotels Market Update, covering the Australia and New Zealand markets.
This report covers economic indicators likely to affect performance across the hotels sector, key performance indicators across Australia and New Zealand’s major hotel destinations, trends in domestic and international visitors, plus recent sales transactions.
Some of the highlights include:
- For the 12 months ending June 2019, International and particularly Domestic Visitors and Visitor Nights continued to grow
- Of the 10 Australian key markets reviewed, six markets achieved occupancy in excess of 77%, reflecting the continuing growth in International and Domestic Visitors. Growth in demand for rooms was achieved in seven markets. However, six of those markets experienced increased new room supply
- Market-wide, New Zealand’s RevPAR exceeds Australia’s by $10 (exchange rate adjusted) which is reflected in the strength of both occupancy (all key markets above 75%) and ADR
- Australia once again cut its official cash rate as both the Australian and New Zealand authorities continue to implement accommodative monetary policy in order to trigger wage growth, employment and economic growth
We hope you find the report of use and interest.