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Occupancy at Australia’s luxury hotels and resorts skyrocketed over the 2016-17 reporting year.
Three out of every four hotel rooms were full each night on average during the 2016-17 reporting year – a modest increase of 0.5% and indicating more travellers were opting for hotels and motels over private rentals – according to the latest Australian Accommodation Monitor figures.
Released recently, the official government report showed an average occupancy rate of 75%. Revenues also posted a slight gain, up 1.6% year-on-year to an average $139 per night.
While the results are an improvement on the prior year, more positive news was seen in the occupancy rate at luxury properties, which skyrocketed 81%. Revenue for luxury rooms averaged at $253 per night while RevPAR was $204 per night. The government pointed to the efforts of Tourism Australia’s Luxury Lodges Australia initiative as a key driver behind the higher yields.
Capital city properties again trumped their regional counterparts as business travellers were identified as higher spenders than holidaymakers on luxury accommodation – on average parting with nearly twice as much as leisure travellers during the year. Occupancy growth was seen mostly in Perth, Brisbane and Sydney – three cities leading the way on investment in new room supply. City and territory capital occupancies averaged at nearly 80%.
Speaking of the accommodation pipeline, the 2016-17 year saw 18 new properties and 2,650 rooms join the market. The overall pipeline consists of 102 individual projects and 19,730 rooms worth $10.8 billion once completed.
The post Occupancies, RevPAR both climb in latest government AAM results appeared first on Hotel Management.
Source: hotelmanagement.com.au