Monday, 11 September 2023

CORPORATE TRAVEL DEMAND BUILDS

Australian hotel performance shows strengthening in business travel according to CoStar and STR analysis presented at NoVacancy Hotel + Accommodation Industry Expo

Australia’s occupancy in the first seven months of the year was 68.2 per cent, up 9.8 per cent from last year. 

The average daily room rate of $234.46 was 7.4 per cent higher than last year and 22.4 per cent better than 2019. 

STR’s Matthew Burke said: “While room prices are considerably higher than 2019, we’ve seen minimal-to-no rate growth year over year. 

That isn’t a loss, but more of a shift, as we’ve seen gains in capital cities and on days most associated with corporate demand.”

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* Destination NSW

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