By Rob Starr, Content Manager, Big4.com
Releasing Deloitte’s Q4 Tourism and Hotel Outlook, Deloitte Access Economics’ Lachlan Smirl said occupancies were forecast to continue to grow over the medium term as demand continued to outstrip supply in the capital cities.
“Our forecast is for national occupancy rates to remain relatively stable over the next year, as supply increases in some key markets, before climbing to 67.1% by 2015,” he said.
Trend occupancy rates in Sydney remained solid in the year to June at 85.1% – down slightly on the 85.4% recorded for the year to March, suggesting the city is close to capacity at peak times. Trend occupancy rates in Melbourne were similar to last quarter – falling from 80.6% to 80.5% in the year to June 2012 – but are forecast to improve considerably in coming years, reaching 85.5% in 2015. Perth’s occupancy rates continue to lead the nation – 86% for the year to June 2012 – and suggest very little spare capacity, especially during the week when business travel is at its peak.Occupancy rates in Darwin grew at the fastest rate nationwide for the second consecutive quarter, and reaching 74.6% in the year to June 2012.
Deloitte’s quarterly Tourism and Hotel Outlook utilises the forecasting, modelling and analytical expertise of Deloitte Access Economics, one of Australia’s leading economics advisory practices. The Outlook also draws on Deloitte’s real estate industry experience and insights, and a range of other sources, including hotel data generated by STR Global Limited.