Industry Analysis & Industry Trends
The Hotels and Resorts industry has rebounded from weaker conditions prior to 2010-11, during which revenue fell due to weakened demand from both the corporate and tourist segments. Over the past five years, hotels and resorts faced heavy competition from other forms of accommodation, particularly serviced apartments, which have been refined to cater to the lucrative corporate segment. During the start of the period, there were significantly fewer visits from traditional inbound tourist markets (the US and the UK). However, strong growth from the Asia-Pacific region (particularly China) supported industry growth. For this reason, industry revenue is expected to grow at an annualised 2.4% over the five years through 2015-16 to total $6.0 billion... purchase to read more
Industry Report - Industry Products Chapter
Hotels and resorts can be segmented by star ratings, which vary depending on the quality of rooms, facilities and services. Five- and four-star hotels and resorts have high room rates and generally provide 24-hour room service and reception, on-site restaurant facilities, and quality furniture and fittings in the rooms. These star ratings are assessed by Star Ratings Australia, a division of Australian Motoring Services that consists of the NRMA, RACV, RACQ, RAA, RAC and RACT.
High-end hotel rooms
Most industry rooms are in the high-end range of four stars or greater. Four- and five-star rooms are estimated to account for 52.9% of industry revenue in 2015-16, growing over the past five years... purchase to read more