Occupancy rates at Australian hotels are improving, particularly in major markets such as Sydney and Brisbane, according to the Chair of the Australia, New Zealand and Pacific Hotel Industry Conference, John Smith. Not only is domestic patronage up but we’re also seeing more guests from overseas.
Mr Smith said the past two years have been difficult for the hotel industry but it now appears that demand from leisure and corporate travellers is improving.
Corporate travel management company, BCD Travel said there was a dramatic increase in the number of corporate travel trips and overnight stays in 2010, as well as many more meetings incentives conferences exhibitions at Australian hotels.
During the GFC, major CBD hotels were the top choice for groups and incentives due to attractive room rates and the convenience of their CBD locations for corporate travellers. However, in 2010 more Australian companies are choosing overseas destinations for meetings incentives conferences exhibitions are two years of tightening their business travel purse strings.
Hotel industry data provider STR Global reports that Sydney now has a near record occupancy rate of 86%, with Brisbane business travel and demand for local meetings incentives conferences exhibitions also picking up. Melbourne business travel and demand for local meetings incentives conferences exhibitions has also increased but at a more gradual pace due to its new hotel supply.