Hotel Market Update: Asia Pacific & Australia
By Robert Hecker on January 11, 2017
Horwath HTL in Asia Pacific and in Australia have teamed up with STR to produce our quarterly Asia Pacific Hotel Market Update. The spotlight of our Q3 2016 issue is on Australia’s Hotel Market.
Extract of our Asia Pacific and Australia Hotel Market Update
Economy hotel chains continue to dominate the hotel opening market, representing 52 percent of the total market. This is mainly driven by the fast expansion of franchised economy hotels in China.
Australia has seen a spate of hotel openings in 2016. In the first three quarters of this year, 4,349 new rooms (36 properties) entered the market, more than double the number compared to the same period last year. A resilient economy, low interest rates and strong international tourism growth are cited as some of the main reasons behind the renewed interest in hotel development.