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1.Market Observations, 8.Was Sticky

13 Jan 2017 (AFR) – Australia’s new hotel openings to dominate 2017

(13 January 2017, AFR, p31, by Larry Schlesinger)

‘Australia’s booming hotel sector is set for a massive injection of fresh supply this year with new hotels to open in Sydney, Melbourne, Brisbane, Adelaide, Canberra and Perth. Some of this new supply will put downward pressure on daily room rates and occupancy levels in weaker markets such as Brisbane and Perth. But in Sydney and Melbourne, where occupancies are near 90 per cent at the luxury end, expectations are for new supply to be more than matched by demand. “2017 will be a record year for new hotel openings,” said CBRE Hotels national director Wayne Bunz. “There will be more new…’

Read more (and see the list of new hotels in the pipeline) at AFR.com (might need AFR login access, or try: AFR.com/trial)

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