QLD tourism targets promote accommodation development

The accommodation industry supports the sale of the former Brisbane Supreme and District Courts to make way for the largest single development in the Brisbane CBD - a mixed-use precinct that will include a new five-star hotel.

The Accommodation Association of Australia says the development has the potential to be a significant step forward for the industry.

"The accommodation industry supports the commitments that the Queensland Government has made to reach tourism targets which are now manifesting itself in this type of development," said the Association's Chief Executive Officer, Richard Munro.

"It is important that our industry has a wide range of quality establishments to offer customers at every level.

"This new five-star hotel, the recently opened Quest at Breakfast Creek and other smaller developments will enhance visitor experiences in Queensland."

The guide to hotel investment in Brisbane, which was released earlier this year, identified that there is a shortage in hotel rooms in the city, costing it approximately 87,000 visitors and $136 million each year.

"The Brisbane hotel market remains strong on the back of corporate travel, events and the surge in Asian visitors travelling for leisure," Mr Munro said.

"It is important that hotel development on this scale is staged to ensure that the incumbent operators are not negatively impacted as a result of new development."

"The development of this new hotel in the city will help ensure the demand for accommodation is being met and will allow Brisbane to compete at a more fair level with established markets such as Sydney and Melbourne."

Source: Accommodation Association of Australia, 23 May 2013