Hotel Development Abounds
Colliers recently released its annual review of the hotel investment climate in Australia. Read More.
The report shows that while transactions have fallen in value from the recent highs, there has been a surge in hotel development, which will continue over the next few years, as domestic and international investors fail to access suitable existing assets. In the year ending June 2018, there were almost 6,500 new rooms, representing over $2 billion of investment. The hotel development pipeline remains strong, with an additional 17,000 rooms over the next two years to replicate the largest wave of new hotel development, since the time of the Olympics at the start of the millennium.
New hotels provide numerous benefits beyond their economic impact. New accommodation product can diversify a destination's offering, creating the ability to attract new visitors and access market segments that may not have otherwise been possible.
Please reach out to us (1800-940-990 or firstname.lastname@example.org) if you would like to discuss how your community can recruit hotel investment.