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Accommodation bounces back post-GFC

Tuesday, 3 April 2012

Despite the global financial crisis continuing to haunt the sector, the Australian accommodation industry is rebounding with growth in both average room-rate and revenue per available room (RevPAR).

According to figures released by the Australian Bureau of Statistics (ABS), 2011 saw improved returns in the market compared to 2010, an increase Accommodation Association of Australia chief executive officer Richard Munro described as an indication of recovery.

“With similar growth in both average room-rate and revenue per available room (RevPAR), it indicates that the accommodation market is progressing well along the long road to recovery following the global financial crisis,” Mr Munro said.

Overall occupancy in hotels, motels and serviced apartments domestically grew by 1.2 per cent in 2011 compared to 2010, while average room rates increased from $153.08 in 2010 to $159.01 in 2011, as did RevPAR from $98.14 to $103.85 for the same periods.

The ACT and Western Australia showed the best performance in the market which Mr Munro attributes to the resources boom in Western Australia, while government related business is the mainstay of the Canberra market.

Other ABS figures revealed Tasmania and South Australia recorded the lowest RevPAR in 2011, while the Northern Territory was the only jurisdiction to experience a year-on-year decrease in RevPAR in 2011.

The Northern Territory Government is developing a new tourism strategic plan which Mr Munro said “the Accommodation Association is advocating, stimulating growth through the sustainable development of premium tourism accommodation businesses in the Top End.”


Source = e-Travel Blackboard: K.W
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