Accommodation Bouncing Back
Australia’s accommodation industry is continuing its resurgence from the global financial crisis, according to the latest Australian Bureau of Statistics figures with the majority of key indicators demonstrating improved returns for the industry in 2011, compared with the very low figures of 2010.
“Overall occupancy in hotels, motels and serviced apartments in Australia was 1.2% higher in 2011, than 2010,” said the chief executive officer of the Accommodation Association of Australia, Richard Munro.
“With similar growth in both average room-rate and revenue per available room, it indicates that the accommodation market is progressing well along the long road to recovery following the global financial crisis.”
ABS figures show that occupancy in Australia for the year ended December 2011 was 65.3%, compared to 64.1% for the year ended December 2010.
The average room-rate in 2011 was $159.01, compared to $153.08 in 2010, while RevPAR grew from $98.14 in 2010 to $103.85 in 2011. In 2008, the corresponding figure was $97.71.
“The resources boom is continuing to fuel growth in the performance of accommodation businesses in WA, while in the ACT, government and related business is the mainstay of the Canberra market. While returns in Canberra are strong, changes in room inventory highlight the importance of diversifying demand through major events, which, pleasingly, the ACT government is continuing to work on.”
Other key points in the ABS figures include:
• Of the States and Territories, Tasmania ($80.82) and SA ($86.98) recorded the lowest RevPAR in 2011; and
• The NT was the only jurisdiction which saw a year-on-year decrease in RevPAR – from $98.58 in 2010 to $97.24 in 2011.
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