Industry Analysis & Industry Trends
The Hotels and Resorts industry has rebounded from weak conditions and falling revenue prior to 2010-11, caused by reduced demand from the corporate and tourist segments. Industry operators have faced heavy competition from other forms of accommodation over the past five years, particularly serviced apartments. Despite this trend, strong growth in international arrivals, particularly from Asia-Pacific countries like China, has supported industry growth 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. As a result, industry revenue is expected to grow at an annualised 3.1% over the five years through 2015-16, to total $6.2 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Hotels and Resorts industry is in the growth phase of its life cycle. The industry's contribution to the overall economy, as measured by industry value added, is estimated to grow at an annualised 2.8% over the 10 years through 2020-21. This is a slight outperformance of the Australian economy as a whole, with real GDP expected to grow at an annualised 2.6% over the same period.
Although hotels and resorts have existed for many years, demand for the industry's services is being driven by demand from both domestic and international travellers. This has in turn been caused by rising income levels both in Australia and developing countries, like China, and the depreciation of the Australian dollar since mid-2013... purchase to read more