Industry Analysis & Industry Trends
The Hotels and Resorts industry has emerged from the troubled years of the global financial crisis in which revenue stagnated due to weakened demand from both the corporate and tourist segments. Hotels and resorts have also been met with heavy competition from other forms of accommodation, particularly serviced apartments, which have been refined to cater for the lucrative corporate segment. Industry revenue declined 8.4% and 3.1% in 2008-09 and 2009-10, respectively, as the global financial crisis wrought havoc on consumer sentiment and business confidence. However, the industry has rebounded following a resurgence of inbound tourist numbers, and recovering consumer and business confidence. For this reason, industry revenue is expected to grow by an annualised 3.1%... purchase to read more
Industry Report - Industry Locations Chapter
Hotels are distributed geographically according to popular tourist destinations and important business locations, of both domestic and international travellers.
In general, domestic tourists are more important than international tourists for the industry's bottom line as domestic tourism accounts for 43.1% of industry revenue. Some states, such as New South Wales and Queensland, have much larger shares of industry establishments than their population distribution would suggest, mainly due to the large number of holiday destinations in these states. Of the 20 most popular tourism regions in Australia for domestic overnight visitors, 11 are in either New South Wales or Queensland... purchase to read more