Industry Analysis & Industry Trends
Strong growth in international arrivals, particularly from countries in the Asia-Pacific region such as China, has boosted revenue for the Hotels and Resorts industry over the past five years. Rising domestic business travel, which is a major revenue stream for larger hotels, has further supported the industry over this period. Consequently, the industry has recovered from the period of weak growth in the five years through 2011-12, caused by reduced demand from the corporate and tourist segments. Despite strong demand from domestic, overseas and business tourists, hotels and resorts have faced heavy competition from other forms of accommodation over the past five years. In particular, competition from serviced apartments has limited industry growth... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Hotels and Resorts industry is in the mature phase of its life cycle. Industry value added (IVA), a measure of the industry's contribution to the wider economy, is projected to grow by 2.1% annualised over the 10 years through 2021-22. This represents an underperformance relative to the economy, with GDP is forecast to grow by an annualised 2.6% over the same period. The industry's slower growth is indicative of a mature economy.
Demand from both domestic and international travellers is driving demand for the industry's services. Rising domestic and international travel has been caused by rising incomes both in Australia and developing countries, such as China, and the depreciation of the Australian dollar since 2013-14... purchase to read more