Suddenly Everyone Wants to Build A Hotel

Marriott Hobart - due to compete in 2018.
Marriott Hobart – due to complete in 2018.

After years of chronic under-investment, eight billion bucks – count 'em – is being pumped into Australian hotel development over the next few years, according to┬áTourism Accommodation Australia.

TAA says there are 228 hotel projects comprising 34,702 rooms under construction, approved for development or in advanced planning stages in the six State capitals and Darwin.

Rooms completed 2016-17 Rooms under Construction Rooms Approved Rooms Planned Pipeline Projects – Hotels Total Pipeline (Rooms under Construction, Approved, Planning)
Sydney 2407 2495 3126 3184 46 8805
Melbourne 388 2227 5150 3878 85 11255
Darwin 273 91 200 1137 11 1428
Perth 891 1934 1008 4225 50 7167
Hobart 0 300 311 796 8 1407
Adelaide 0 245 856 880 10 1981
Brisbane 85 1051 974 634 18 2659
Total 4044 8343 11625 14734 228 34702

 

CEO of Tourism Accommodation Australia, Carol Giuseppi, said the unprecedented hotel development boom is "both responding to the massive growth in tourism demand and anticipating long-term growth in the visitor economy."

She says much of the demand is coming from strong international tourism growth.

There was an 11% increase in visitor arrivals for the 2016 year, taking the total number to 7,624,665.

The Korean and Japanese are back in a big way with 24% annual growth, followed by China (17%) and USA (16%).

"Total international visitor spend grew 7% to reach $39.1 billion, injecting an additional $2.5 billion into the Australian economy in 2016," Ms Giuseppi said.

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