Top Owners & Operators: Strong markets continue to underpin growth
JLL’s Hotels & Hospitality Group has conducted an annual survey of the major Australian accommodation owners and operators for more than fifteen years. Information is collated at the end of each calendar year and the consolidated results relating to the top ten owners and operators are reported to the industry.
Australia’s accommodation supply
According to the Australian Bureau of Statistics (ABS), as at June 2015 Australia’s accommodation supply showed an increase of 8.2% predominantly due to a change in the Survey of Tourist Accommodation (STA) frame, which resulted in the identification and subsequent addition of 279 establishments (18,927 rooms).
Strong trading market fundamentals in major accommodation markets are anticipated to result in ongoing supply growth in the short to medium term. Major projects in Sydney include Crown Hotel at Barangaroo, Sofitel Sydney Darling Harbour and an extension of Four Points by Sheraton. In Melbourne, projects underway include Four Points by Sheraton, QT Hotel & Residences and Ritz Carlton. Projects in Brisbane include the W Hotel and Holiday Inn Express, while projects in Perth include the InterContinental Perth, Doubletree by Hilton, Westin Perth, Crown Burswood and Aloft.
According to the STA frame, there were a total 248,573 accommodation rooms in Australia as at June 2015, of which the Top Ten Owners accounted for 10.1% (25,070 rooms) of total room supply at the end of 2015 and the Top Ten Operators accounting for 40.4% (100,301 rooms). Rooms owned by the Top Ten Owners have increased at an average rate of 0.9% per annum since 2000. This is marginally below the growth in total accommodation supply. The Top Ten Operators have grown at a higher rate averaging 5.5% per annum.
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Source: JLL, Accessed 9th June 2016
