Accommodation Australia CEO James Goodwin is hopeful of a busy holiday period for hotels despite cost-of-living pressures.
STR’s latest data market report shows September 2024 occupancy was stable despite slowing growth, standing at 72.7% up just 0.6% on September 2023 (72.1%).
Year-to-date occupancy across the country was at 70.4% compared to 68.7% in the first nine months of 2023.
“Hotel occupancy is a key economic indicator,” said Goodwin.
“These figures show demand is solid but it’s clear cost of living pressures are slowing growth.
“Most locations have seen an improvement on last year, but we did expect stronger growth in international tourism.
“It’s a tough operating environment for hoteliers with rising labour and energy costs but they have kept room rates low to increase demand.
“The average nightly room rate last month was $232.86 which is cheaper compared to $237.25 in September 2023.”
Goodwin said the outlook for the Christmas/New Year period was positive.
“We’re hoping for a busier holiday period and already seeing many consumers booking early for the best value rooms and locations,” he added.