Deloitte’s Tourism and Hotel Market Outlook examines both global and domestic economic developments, as well as emerging trends, accompanied by commentary on the underlying drivers.
Against the backdrop of Deloitte Access Economics’ latest economic forecasts, this report forecasts growth in supply, occupancy, room rate and revenue per available room (RevPAR) across the ten major Australian tourism markets.
The latest Tourism and Hotel Market Outlook reports that Australia’s tourism sector has posted yet another remarkable year of growth, despite a moderation of global economic conditions.
Key insights:
- International visitor numbers to Australia climbed 8.9% over the past year to 8.5 million, with an additional 700,000 visitors arriving on our shores
- Growth in trips on the domestic front, has slowed since the February Outlook, with an uptick in corporate travel insufficient to counter the stalling of growth in domestic leisure travel
- The performance of Australia’s hotel sector was modest in the first half of 2017, with room occupancies averaging 68% on the back of 0.3% growth
- Global economic conditions remain favourably orientated for Australian tourism
- Performance of Australia’s hotel sector was modest in the first half of 2017, with national performance weighed down by weaker growth of some markets absorbing new supply and softer demand conditions
- Further narrowing in the supply-demand growth differential for hotel accommodation, while room rates are forecast to steadily grow over the next three years.
Click the link to view and download the Executive Summary of the Deloitte Tourism and Hotel Market Outlook report.
To purchase the full report visit the Deloitte website.
See also:
Influx of Australian business visitors boosts Brisbane tourism
Mantra CEO Bob East officially announced as Tourism Australia Chairman
Asia Pacific hospitality assets remain keenly sought after
