Casting an eye over statistics released by our friends at Tourism Australia and their research arm Tourism Research Australia, the numbers tell an exciting story. Domestic overnight trips were up 5% in FY17 to a record 93.7 million, with nights increasing 4% to 338 million.

These results, combined with strong growth in international travel for the year ended June 2017, place the total tourism spend at a record $122.9 billion. This is an overall increase of 6% or $6.9 billion on the previous year. On the international visitor front – arrivals up 9%, total visitor spend up 7%, total inbound aviation capacity up 8%. As at June 30, Australia had welcomed 8.5 million overseas visitors for the year. They injected $40.6 billion into our economy.

Trudy Crooks of Resort Brokers Australia reports that a record in activity and turnover. "our running tally for the 2017 calendar year shows 173 settled sales of properties across all states and territories, with a total value nudging $290 million."

"By the end of December, a further 47 sales are due to conclude, adding another $121.5 million. So we are on track to smash Resort Brokers Australia records for both volume and value – potentially 220 sales for the year valued well in excess of $410 million. Half a billion, here we come!"

"Resort Brokers Australia was recently at the centre of a history making deal, now just settled, that saw Mantra Group buy Australia’s inspired sevenproperty Art Series Hotel Group for $52.5 million. This was our largest deal for 2017 (although it is soon to be closely matched by a still-confidential single freehold hotel sale currently under offer)."

"But, no sooner had we announced Mantra’s Art Series acquisition than AccorHotels announced it intended to take over Mantra Group for $1.3 billion. It followed hot on the heels of Japan-based Prince Hotels acquiring homegrown StayWell Hospitality Group with its 30-strong portfolio of 18 hotels and 12 under development across seven countries."

"Consolidation in the hotel sector seems set to continue. As we discussed in the last edition of Informer, one key reason seems to be an aim to broaden the offers available on hotel group booking platforms so more travellers use their channels rather than OTAs. The goal is to boost customer loyalty and curtail leakage to the OTA sector."

"Of course there can be advantages for the owners of target-brand properties too. For example, in the case of the Mantra acquisition, Accor’s superior purchasing power should deliver real savings for owners."

Click here to view the full article and view the Resort Brokers Australia Informer Magazine.

To discuss the accomodation market contact Trudy Crooks of Resort Brokers Australia via the below contact details.

See also:

Six-star Riverbank hotel proposed for Adelaide

Perth's Optus Stadium set for January 2018 debut

Melbourne's The Valley Racecourse $2 billion redevelopment