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Industry gathers on the Gold Coast for key market update

Road to recovery "well and truly in sight"

Tourism Accommodation Australia (TAA) CEO, Michael Johnson has described this week’s gathering of industry leaders on the Gold Coast as an opportunity to reflect on the huge impact COVID-19 had on the industry and more pointedly, to track the road to recovery.

Hosted by the Accommodation Association (AA) in conjunction with TAA and Queensland Hotels Association, the ‘South-East Queensland Hotel Market and Economic Update’ taking place at The Star attracted more than 100 industry leaders, including general managers and department heads from the nation’s leading hotels.

With key speakers including BDO’s Rob Hoffman and STR’s Paul Hammond, the event also provided an opportunity for Accommodation Association (AA) CEO, Richard Munro to advise on the progress of the TAA/Australian Hotel Association and AA amalgamation discussed at board level the day before.

TAA CEO, Michael Johnson

“The Economic Outlook from Rob Hoffman from BDO was very insightful including how the current inflation rate of 5.1 percent and the increase in mortgage rates will have a detrimental effect on consumer spending,” Mr Johnson said.

“Data from Paul Hammond from STR showed how resilient the Gold Coast has been throughout the last two years with the initial support of the local Brisbane market and then interstate markets after borders reopened across the country.

“Current data shows the Gold Coast outperforming the same 28 days in 2019 by 47 percent in revenue per available room.”

Mr Johnson said an event highlight was the industry panel detailing first-hand the highs and lows experienced during the last two years.

“It was great to hear accounts of the emotional days of standing down staff, the introduction of JobKeeper and finally seeing the road to recovery well and truly in sight,” he said.

On the amalgamation, AA CEO, Richard Munro said the progress is on track.

Richard Munroe
Accommodation Association CEO, Richard Munro

 “We have effective pre-election commitments coming from the Labor Government in support of the AA’s Hub for training and education needs and a real feeling of optimism for our sector,” he said, adding the theme at the event was clear, that the accommodation industry was hit hard, is bouncing back and is a fun industry to work in.

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