Australia ranks 12th worldwide in number of open hotel rooms, and fourth among countries in Asia Pacific.
ADELAIDE - Meetings planners looking to bring their events to Australia will no longer face a shortage of accommodation, with the country now ranks 12th worldwide in number of open hotel rooms, and fourth among countries in Asia Pacific.
This is according to latest data from STR.
Three criteria first had to be fulfilled: the hotel needs to have 10 or more rooms; generate revenue on a nightly per-room basis; and be open to the public - excluding properties requiring membership, club status, or affiliation.
"As a whole, Australia's occupancy has been at or near 75% for each of the last five years, and average daily rate has consistently ranged around 185 Australian dollars (US$121)," said Matthew Burke, STR's Regional Manager - Pacific.
With new openings in November, Australia now offers 5,600 hotel properties and 300,229 rooms, with Sydney leading the pack at 43,841 rooms. Overall, the country offers the largest percentage of rooms in the upscale category at 24.2%, which also has seen the largest influx of new supply with 10,931 rooms opening since 2015.
Amongst the branded inventory list, Accor sits at the top with 32.1% of rooms, followed by The Ascott Limited at 7.6%.
Australia has 94 projects and 18,294 in the works, plus another 216 projects and 36,005 in the pipeline. Melbourne, Hobart and Adelaide are expected to see the largest increase based on their existing room counts, according to Mr Burke.
"As we have seen in the data this past year, all of this new supply has put some pressure on occupancy levels, and subsequently, hotelier pricing confidence.
"Moving forward we anticipate demand growth in almost all markets, but with sustained supply increases, we're still forecasting occupancy declines in the short term," he added.