One of Australia’s leading hotel analysts is predicting 10% revenue growth for most major markets in 2011. Dean Dransfield also says 2010 is set to outperform moderate expectations of 5% growth. “The outlook for the Australian market remains extremely positive with most of our forecasts presently being upgraded for both the short and medium term,” he says.
“High occupancies and limited supply have emboldened price setters across the board and have overcome the negative noise from slowing domestic demand growth, high outbound travel and interest rate pressure.
“Market participants are now consistently suggesting revenue growth may be in the order of 10% or above compared with the 5% to 10% estimates of six months ago.”
The big exception, as always, is Cairns and Far North Queensland.