Hotel occupancy holds steady amid cost-of-living crunch
James Goodwin, CEO of Accommodation Australia, highlights that while these numbers signal resilient demand, the expected surge in international tourism remains subdued
The latest report from STR, analysed by Accommodation Australia, indicates stable hotel occupancy rates across Australia for September, with a slight increase from 72.1 percent in 2023 to 72.7 percent in 2024.
Year-to-date occupancy also improved, reaching 70.4 percent compared to 68.7 percent for the same period last year, despite economic headwinds.
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James Goodwin, CEO of Accommodation Australia, highlights that while these numbers signal resilient demand, the expected surge in international tourism remains subdued, likely due to cost-of-living pressures.
“Hotel occupancy is a key economic indicator,” said Goodwin. “These figures show demand is solid but it’s clear cost of living pressures are slowing growth.”
Hoteliers have managed to keep room rates competitive amidst rising operational costs. In September, the average nightly room rate was $232.86, down from $237.25 in 2023. Goodwin is optimistic about the Christmas/New Year period, as early bookings reflect a positive trend, with guests seeking the best deals in prime locations.
The STR data, compiled for Accommodation Australia, encompasses all capital cities as well as Cairns and the Gold Coast, offering a comprehensive view of national occupancy trends.
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