Australia's Hotel Markets Turn in Mixed 1Q Performance

NEW YORK CITY-The Queensland markets of Brisbane, Cairns and the Gold Coast of Australia turned in a strong first quarter 2001, with Brisbane in front with occupancy rising 10% and RevPAR up 7%, according to the latest Andersen Hotel Industry Benchmark Survey. Andrew Sudholz, managing partner of real Estate & Hospitality Asia Pacific, says that “this seems an excellent result for these markets, having emerged from the significant effects of the Asian Crisis in 1998 and grappling with new supply soon after.”

He also notes that the prospects for Brisbane are especially positive thanks to the Australian Tourism Exchange in May and June, the Goodwill Games in August and the Commonwealth Heads of Government Meeting in October.

The monthly survey of eight cities with a total of 45,000 rooms, saw an overall 2% fall in RevPAR, largely due to Downtown Sydney’s 4% decline in occupancy and 6% drop off in RevPAR. For Suburban Sydney the figures were much lower, with occupancy down by 15% and RevPAR by 19%.