Events boost for Australia's March hotel results

MICE News
Wednesday, 26 April 2017

The latest STR occupancy figures show significant growth for Australia’s hotel sector, after Adele’s record breaking tour of Australia produced an events-based boom for the cities where she performed.

The largest RevPAR turnaround was recorded in Brisbane, a city that has had to contend with a fall in demand from the resources sector in recent years. Brisbane’s hotels grew their occupancy from 70.5 per cent in March 2016 to 78.6 in March 2017, an 11.5 per cent increase in occupancy resulting in a 9.4 per cent growth in RevPAR.

 

The success came on the back of the city staging two Adele concerts attracting 60,000 fans to the Gabba, injecting an estimated A$40 million into the Brisbane economy. The city also hosted the World Science Festival and several sporting contests.

 

Events-driven demand impacted many of Australia’s cities during March, with events such as the Melbourne Grand Prix and Sydney’s Mardi Gras driving both cities to near-record performances.

 

Sydney’s hotels grew occupancy in March to 92.8 per cent compared to 90.1 per cent in 2016, while Melbourne occupancy grew to 91.0 per cent compared to 87.2 per cent in March 2016.

 

Tom Gibson, vice president of investment sales for JLL’s Hotels and Hospitality Group, said that most of Australia’s cities had recorded impressive growth in the first quarter of 2017.

“The power of Adele’s tour of Australia highlighted the potential of events to drive hotel occupancies across the country, and particularly in Brisbane,” said Gibson.

Events boost for Australia's March hotel results

MICE News
Wednesday, 26 April 2017

The latest STR occupancy figures show significant growth for Australia’s hotel sector, after Adele’s record breaking tour of Australia produced an events-based boom for the cities where she performed.

The largest RevPAR turnaround was recorded in Brisbane, a city that has had to contend with a fall in demand from the resources sector in recent years. Brisbane’s hotels grew their occupancy from 70.5 per cent in March 2016 to 78.6 in March 2017, an 11.5 per cent increase in occupancy resulting in a 9.4 per cent growth in RevPAR.

 

The success came on the back of the city staging two Adele concerts attracting 60,000 fans to the Gabba, injecting an estimated A$40 million into the Brisbane economy. The city also hosted the World Science Festival and several sporting contests.

 

Events-driven demand impacted many of Australia’s cities during March, with events such as the Melbourne Grand Prix and Sydney’s Mardi Gras driving both cities to near-record performances.

 

Sydney’s hotels grew occupancy in March to 92.8 per cent compared to 90.1 per cent in 2016, while Melbourne occupancy grew to 91.0 per cent compared to 87.2 per cent in March 2016.

 

Tom Gibson, vice president of investment sales for JLL’s Hotels and Hospitality Group, said that most of Australia’s cities had recorded impressive growth in the first quarter of 2017.

“The power of Adele’s tour of Australia highlighted the potential of events to drive hotel occupancies across the country, and particularly in Brisbane,” said Gibson.