Hotel Momentum Shift But Amex Bullish – For Now

24 October, 2008 by Martin Kelly

By Martin Kelly, Editor, Travel Trends

TWO days after American Express predicted that Australian hoteliers will be able to squeeze rate increases of more than 8% from corporate clients in some markets, STR Global released the following September hotel performance figures for Australia and Oceania.

Room rates down 5.7%; occupancy rates down 6.3%; revenue per available room down 11.6% – September was a shocker compared with last year. And the story was even worse for Sydney, Australia’s biggest hotel market: room rates down 15.5%, occupancy rates down 9.8%, revenue per available room down 23.7%.

Amex, meanwhile, has forecast that corporate rates will rise over the coming year. It believes the strongest rises will be in Brisbane (8.2%) and Perth (8%), followed by Melbourne (4.7%), Sydney and Adelaide (both 4.6%). But hey, things change. Travel Trends: October 24, 2008

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