Cairns pips Canberra for top spot as hotels market set for stronger year
Cairns has returned to its familiar position as Australia’s best performing hotel market for the fourth consecutive year, following a strong final quarter.
The old Northbank Goods Shed site fronting Melbourne's Yarra River has received the green light for a $450 million hotel, residential and commercial redevelopment by privately-owned developer Riverlee.
Have your say on the Gold Coast Airport's new hotel
The Preliminary Draft Major Development Plan has been prepared for the $50 million Rydges branded Gold Coast Airport hotel, featuring a rooftop bar and viewing deck, opening in 2019.
Following the multi-million dollar refurbishment of Cordis, Auckland, Hong Kong-based Langham Hospitality Group has announced new expansion plans that will transform the hotel into New Zealand's largest.
NZ hotel owners look to divest in buoyant investment climate
More hotels will be offered for sale this year as owners look to take advantage of the buoyant investment climate by selling off increasingly valuable assets.
Colliers International Australia's Hotel Sales 2017 report released today found that new hotel development deals amounted to $394 million – almost a quarter of the total sales volume in 2017.
JLL release their global Hotel Investment Outlook 2018 report
JLL's most recent global hotels report comments that the level of fundraising activities is at its highest seen in any cycle, which is expected to translate into significant growth in 2018.
Australia's best and worst performing hotel markets
According to CBRE's latest hotels research, the last quarter of 2017 saw over $400 million worth of hotels transact in Australia, but this was not enough to stop 2017 recording the lowest national sales volumes since 2011.
Chinese tourism has reached a new $10 billion record in Australia
Spending by Chinese tourists has reached a new record in Australia - exceeding $10 billion for the first time. The $10.3 billion record is one of many broken in the International Visitor Survey released last week.
