The demand for hotels is outweighing the supply in Sydney, said a Horwath HTL report.
Australia’s most popular city for international visitors is growing its supply of hotels by 1.3 percent per year. Demand continued to outgrow the supply, having increased at a CAAG rate of 1.9 percent over the same seven-year period.
Sydney remains the top performing hotel market in Australia, with an occupancy rate of 86 percent and an Average Daily Rate of AU$230 for the year ending March 2018.
Comparatively, Brisbane and Darwin both had positive RevPAR growth, as did Gold Coast and Cairns. Perth’s growth remained stagnant, both occupancy rates and ADR decreased.