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Australias hotel sector is on track for a full recovery by the end of 2025, with all major cities recording occupancy growth, according to new CBRE data. National occupancy rates sit at 71%, up 2% year-on-year, while average daily rate (ADR) remains stable at AU$240 and revenue per available room (RevPAR) is up 3.8%
Australia’s hotel industry has welcomed 20,000 new rooms and more than 200 hotels since the end of 2020, signalling a revival in construction in the wake of the pandemic. Hotel operators across the country – but particularly in our gateway cities – are seeing occupancies re-building to pre-pandemic levels. “We
As part of HM’s 2023-24 Development Outlook, CBRE Hotels Managing Director – Capital Markets, Michael Simpson, and Pacific Head of Hotels Research, Ally McDade, discuss the challenges and opportunities that lie ahead in the Australian hotel market. Melbourne is the primary recipient of new room supply (35% of total).
In the hotel’s first week, even without a heavy marketing campaign, occupancy was circa 60% with one night over the weekend hitting 80% occupancy due to compression on the CBD, thanks to the hotel’s close proximity, Hunt shared. Elsewhere in the Australia Pacific region, Marriott is experiencing strong growth. “I
With a little creativity and lots of data and insights, low occupancy periods can be more efficiently managed Low occupancy is largely driven by seasonality with off-peak times being marked by fewer bookings and even lower forward bookings. To conclude Optimising revenue during low occupancy doesn’t have to be difficult.
Crowne Plaza Fiji Nadi Bay will host an AHICE networking event and site tour Wilkinson pointed to Fiji’s tourism boom and growth in average daily rates and occupancy levels at hotels across the country, which have been on the rise since the end of 2021 as Australians, Kiwis and Americans head to the island nation in record numbers.
Almost a year on from the opening of its first Australian property in Melbourne’s trendy inner-city suburb of Collingwood, and with another under construction in Bondi Junction, the brand is exploring further opportunities for growth – in dynamic metropolitan neighbourhoods. We’re not aiming to be this high-end lifestyle brand.
In the latest United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that construction pipeline projects in the U.S. At the close of the first quarter, projects currently under construction stand at 1,051 projects/140,365 rooms, each showing 9% growth YOY. construction pipeline at Q1.
President and Managing Director of International Operations, Barry Robinson, told HM. What we have found over the time is that our business has been pretty stable through good and bad times – our occupancies don’t really fluctuate, our sales velocity has been quite consistent,” Robinson said. “It’s
Australian-owned fund manager Salter Brothers is expanding its portfolio of luxury retreat assets with the acquisition of the Bannisters portfolio in New South Wales. Salter Brothers Hospitality will assume management of these hotels with the support of an existing skilled team of 150 full-time staff members. “We
“As the Australian arm of Ascott, lyf Sussex Sydney and Oakwood Epping are part of our proven global strategy that is focused on delivering hospitality solutions that elevate the guest experience,” said Ascott Australia Managing Director, David Mansfield. Ascott is aiming for a mid-2025 opening.
Veriu Group CEO, Zed Sanjana, and developer Tim Gurner are celebrating a successful first six months of Veriu Collingwood, with the apartment hotel garnering strong occupancy and room rates since opening. But in terms of the cost of construction, it doesn’t help to solve that at all. More and more so.
. “All segments drove RevPAR outperformance, with strong trends in leisure occupancy, as well as continued growth in business transient and group results, and we expect favorable trends to continue into 2025. compared to the same period in 2023 due to increases in both occupancy and ADR. 31, 2023 Diluted EPS was $2.06
With the addition of a new convention centre two years ago and a new, 30,000-seat indoor stadium under construction and scheduled to open in April 2026, Christchurch is anticipating an influx of visitors for larger sporting events and concerts. “We
occupancy points to 70.7% occupancy points, and the Cairns Area showing the strongest YTD growth up 7.0 occupancy points as a result of increased leisure demand and group business. occupancy points, and the Cairns Area showing the strongest YTD growth up 7.0 occupancy pts, Gold Coast up 3.8
Revenue management (RM) is supremely necessary for hotels. I kid you not, most of the hotels refrain from opting for any sort of revenue management services. The hotel revenue management myths that are swirling around are the real reasons hotels are so skeptical about it. Do not shy away from revenue management.
Market challenges Upward pressure on construction costs There’s no doubting the last few years have been challenging ones for the property sector, which has experienced significant increases in the price of commercial construction since the pandemic.
What is hotel revenue management? Hotel revenue management is the strategic distribution and pricing tactics used to sell perishable room inventory to the right guests at the right time in order to boost revenue growth. What is the primary purpose of revenue management? Why is revenue management important for the hotel industry?
Hotel occupancy, which is at a market average of 70%, is up 15% year-on-year, but remains down (-9%) on pre-pandemic levels. Rotorua’s hotel occupancy rate showed the most improvement, up 39% compared to 2022, slightly ahead of Queenstown, which was up 38%, and higher again than Auckland, which has had a 33% lift.
Hybrid spaces that can host large conferences and provide exceptional leisure experiences are on the rise, allowing owners to maximize occupancy and rates throughout the week. The post Exclusive: Hilton taps into MICE opportunities in regional Australia appeared first on Hotel Management.
A year on from opening in April 2022, boutique Queenstown hotel The Carlin is celebrating increasing occupancy amid a strengthening luxury tourism market locally. The post Keeping up with The Carlin: boutique Queenstown hotel builds momentum appeared first on Hotel Management.
The Auckland market will need more than just the NZICC to see occupancy rates recover to near previous levels particularly considering the supply currently under construction. The post Supply vs demand: CBRE’s New Zealand hotel market outlook appeared first on Hotel Management.
Minor Hotels is investing its New Zealand portfolio with major renovations taking place at key Oaks properties, as Minor Hotels Area Manager New Zealand, Jamie O’Donnell, explains. This will mean both front blocks will be in operation with unobstructed views, with all construction works occurring behind them.
General Manager Peter Minatsis discusses the latest iteration of the brand and what makes this particular hotel special. There were a lot of passionate people who wanted the property to remain as the Palace Theatre and the construction timeline was drawn out because of that. Are you seeing a positive response from locals since opening?
Brian Barker, clinical associate professor at the NYU SPS Tisch Hospitality Center, has been named the inaugural executive directorapprenticeship & workforce development, with responsibility for directing and managing efforts for the Tisch Centers Workforce Apprentice Program across NYU SPS and its industry partners.
New data from STR shows that the city had its best month on record for hotel occupancy in March with an average of 8,376 room nights occupied each night of the month, creating an all-time high of more than $60 million in revenue. The post AHICE draws over 1400 hospitality leaders to Adelaide appeared first on Hotel Management.
While Louisa Green from RBH Hospitality Management noted some political headway for hospitality; “as an industry, we were concerned that we weren’t on the radar, so getting on the agenda is good progress”. Recovery: A Mixed Bag STR’s latest data highlighted the UK’s global leadership in hotel occupancy, boasting a robust 77%.
Occupancy has a strong foothold in the Canadian marketplace today, said Nguyen, forecasting that 2025 will be a year of moderation with limited room for occupancy growth and slower ADR momentum. Laport noted Concord has eight hotels under construction, while Toor is building strategically in high-barrier markets.
He added, “In the fourth quarter, worldwide RevPAR rose 5%, driven by gains in both ADR and occupancy. Q4 2024 results Base management and franchise fees totaled $1.128 million in Q4, a 10% increase compared to base management and franchise fees of $1.026 million in the year-ago quarter. to more than 1.7
On the back of over 90% hotel occupancy and $8.3 Nearly half of all Expedia members belong to one loyalty program or another,” said area manager Shannon Saines, “and some as many as nine programs. The government will work to increase the occupancy rate, “he promised, noting “20,000 extra rooms are coming to SA.”
As debt and construction costs continue to prove challenging, we are finding that midscale and economy brands are quite appealing to investors as they require easier financing. This can mean lower breakeven occupancy rates, higher operating margins, and ultimately higher return on investment.
A reputation management strategy is crucial for hoteliers. In this article, we explore strategies to maintain a consistently positive brand image and the role that technology plays in reputation management. What is hotel reputation management? Here are just a few benefits of a successful reputation management strategy.
Whether you’re a senior hotelier or an entrepreneur in the hospitality sector, understanding what a hotel management company does is essential to thriving in today’s competitive hospitality landscape. Article Summary: What Do Hotel Management Companies Do to Help Hoteliers?
This includes addressing any negative feedback in a professional and constructive manner. How can a hotel channel manager help in managing my Airbnb Listing? With a single login, you can manage all your multiple listings, bookings, and reviews. Find out more here Did you know?
Whether you’re a senior hotelier or an entrepreneur in the hospitality sector, understanding what a hotel management company does is essential to thriving in today’s competitive hospitality landscape. Article Summary: What Do Hotel Management Companies Do to Help Hoteliers?
Whether you’re a senior hotelier or an entrepreneur in the hospitality sector, understanding what a hotel management company does is essential to thriving in today’s competitive hospitality landscape. Article Summary: What Do Hotel Management Companies Do to Help Hoteliers?
compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 12.2% compared to the same period in 2019, and management and franchise fee revenues increased 38.5% compared to the same period in 2019, and management and franchise fee revenues increased 33.1%
compared to the same period in 2022 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 16.1% compared to the same period in 2019, and management and franchise fee revenues increased 30.8% compared to the same period in 2019, and management and franchise fee revenues increased 28.7%
First quarter worldwide RevPAR grew 34% year-over-year [YOY], with meaningful gains in both occupancy and ADR,” said Anthony Capuano, president/CEO. Roughly 200,000 rooms in the pipeline were under construction as of the end of the first quarter. . & Canada and 63.1% “We are off to a great start in 2023.
HTL’s, David Simpson waded straight in, declaring that franchise agreements presented “great value for money” in the current environment, but had been held back in growth “due to a lack of white label management.” Leanne Harwood of IHG engaged diversity advocate Christopher Schiavello from his namesake construction company. Stay tuned.”
His ability to coordinate and manage teams, along with his rapport with everyone he works with makes him an indispensable interface between projects and their stakeholders. Her technical expertise and strong management skills enable her to oversee all stages of project delivery, ensuring seamless execution.
Tisch Center of Hospitality and Boston Consulting Group (BCG) , recently collaborated on a survey of hotel owners, management companies and other industry stakeholders to gauge their sentiment and prospects for the hospitality industry. While inflation increases operating costs, it can also help accelerate room rate growth.
With the exception of Greater China, RevPAR in all regions more than fully recovered and continued to show meaningful advances in occupancy and ADR. Approximately 199,000 rooms in the pipeline were under construction as of the end of 2022 “In our largest region, the U.S. & worldwide, 23.6% in the U.S. & worldwide, 5.2%
Blakeburn relocated to Cornwall in 2000 to join Rick Stein’s Seafood Restaurant before joining the team at Watergate Bay, where she quickly progressed from marketing manager to brand director. She delivers brand strategy, marketing, sales and guest experience through a cohesive, creative and commercial approach.
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