Australian Hotel Market Outlook
The Australian Hotel Market Outlook for the fourth quarter of 2011 looks at the impact of a range of issues, including global economic uncertainty, the strong $A and emerging Asian inbounds markets on the Australian tourism sector.
Depressed markets and a high Australian dollar are expected to remain the reality – and the ongoing challenge for the industry.
In 2011, tourism consumption is forecast to decline by 0.3 per cent in 2011. International visitor arrivals are now forecast to grow just 0.4 per cent (with stronger growth from Asia offsetting declines from other markets). Outbound departures, boosted by the strong $A, will remain strong, with 9.2 per cent growth.
The lingering weakness in arrivals has led to the tourism sector holding back on investment in new rooms, facilities and better attractions.
Hotels – particularly in city CBDs – have performed relatively well, with business travel demand is up, yet there are still major issues for hotels and resort properties in regional areas.
Download the full report and media release below.