JLL Hotels & Hospitality Group has successfully hosted the “Gearing back up for No Vacancy - When the guests return, will you be ready?” webinar; a topical discussion on what’s ahead for the sector in 2022.

Industry experts Paul Hammond, STR, and Renae Trimble, Accor in conjunction with Gareth Closter, Senior Vice President, JLL Hotels & Hospitality Group, presented on the trends unfolding in the Queensland accommodation market and shared industry insights on how these challenges are being addressed.

This comes off the back of an extremely strong first quarter performance for Accor’s Queensland hotels.  Overall, the group’s properties recorded an average of 70 percent occupancy, significant given the 67 percent occupancy recorded for the same period in 2019, before the impacts of the COVID-19 were felt.

“The Queensland hotel & accommodation sector has seen a huge spike in demand following the state border opening which only seems to be building further as we move into the Easter and school holiday period” Mr Closter said.  “Our counterparts in NSW & Victoria love to follow the sun at this time of year and given the challenges that remain around outbound overseas travel, Queensland is an excellent holiday option.”

The webinar commenced with STR’s Paul Hammond providing an update on the accommodation market’s performance, sharing the latest statistics and trends. These STR trends backed up the Accor announcement with positive demand data. Renae Trimble, Chief Commercial Officer at Accor, then ran through how the Pacific’s largest hotelier is dealing with the challenges of gearing back up now that we are seeing positive take up in hotel occupancy.

JLL Hotels & Hospitality Group’s Gareth Closter also discussed how this is impacting transactions and the market for hotel and accommodation-based assets in Queensland. “We are seeing extremely strong demand in the hotel and motel space off the back of this positive data.  Investors are seeking yield and Queensland offers real value in terms of yield ranges and per key rates in comparison to NSW & Victoria”.

With the announcement of the 2032 Brisbane Olympics Brisbane, continued infrastructure investment, northern migration from southern combining with this positive hotel demand story, Queensland is firmly on investors shopping list and as the state sets up for the golden decade.

if you missed the webinar "Gearing back up for No Vacancy" and would like to watch a recording please visit via the below link 

To watch a recording of the Webinar follow the link here.

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