SYDNEY ACCOMMODATION MARKET PERFORMS WELL IN 2018
HTL Property Research – Spotlight On: Sydney Hotel Market Report Released
For clubs and hotels across NSW with accommodation as part of their portfolio the HTL Property Guide is an interesting read. The Sydney accommodation market, heavily spurred on by favourable tourism numbers, translated into a positive 2018 performance, according to HTL Property’s latest ‘Spotlight On’* report.
The research showed new highs in visitor arrivals both internationally and domestically had a large impact on occupancy levels and RevPAR rates across the city. HTL Property Director of Asia Pacific Region Andrew Jolliffe said this had not gone unnoticed by investors, who had actively pursued the limited assets which had entered the market, placing further downward pressure on investment yields.
HTL Property Head of Research Vanessa Rader said limited stock availability had resulted in 2018 yielding record lows in sales volumes. “Despite the confirmed limited volume of sales in metropolitan areas, the regional area market continues to be active, recording $58.75M in sales in 2018.
Regional sales represent 20.85 per cent of total confirmed sales, up from the average proportion of 11.55 per cent. “Limited CBD transactions sees Park Regis City Centre being the largest transaction in 2018, at $54.18M.
Source: http://ecomms.raywhite.com/rv/ff004786b2759fae3fe5700d9e4289ae6c663d41
The Spotlight On: Sydney Hotel Market Report highlights:
- In 2017/2018 visitor nights across NSW reached 98,783 – an 8.96% increase above last year.
- Origination of over 30.52% of all tourists was from New Zealand and China but China is expected to grow visitation by over 12% per year.
- Only 27.8% of all visitor nights were in Sydney, with the rest in regional locations.
To download a copy of the full report, Click Here>>> https://drive.google.com/file/d/1Dp0aIsUSbNRZyhLHRs-2EsREJUrQPTDG/view
