New research has highlighted the top-performing hotel brands across the ANZ region, with very little movement from the previous year.
The top-ranking hotel owners and operators across Australia and New Zealand (ANZ) have remained unchanged over the past year. But some well-established owners in the mid-ranks dropped down in the top 10 list as their competitors acquired and developed new assets, new CBRE research shows.
CBRE’s inaugural Australia and New Zealand Top 10 Hotel Owners and Operators report surveyed 40 major hotel owners and operators. The data spanned close to 1,500 hotels and over 200,000 rooms – accounting for just over half the total room supply in ANZ.
“The ANZ hotels market continues to show growth and investment, driven by strong international and domestic demand,” CBRE’s Head of Hotels Research Ally Gibson said.
“Although we have seen growth moderate, more than half of the owners and operators in both top 10 lists have expanded their portfolios in the past year, reflecting confidence in the market.”
CBRE’s Regional Director, Hotels Valuation and Advisory Troy Craig said given the subdued level of transaction volumes so far in 2024, he did not expect to see any major changes emerging in the top owners list over short-term.
Regarding the top operators list, Craig said that, consistent with the longer-term trend, there is continued uplift in the proportion of hotel stock under the management and/or branding of the major operators.
“This trend has been propelled by the level of new supply over recent years combined with the proliferation of additional brands from major operators. As the new supply pipeline continues to contract under the weight of feasibility challenges, due to elevated debt and construction costs, operators will inevitably turn their focus back to established assets for growth opportunities,” Craig said.
“In the long-term, operators focussed on, and able to demonstrate, effective cost management strategies will grow their market share in what is a challenging operational expense environment against a backdrop of slowing revenue per available room growth.”
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