This article is from the Australian Property Journal archive
STRONG market conditions will encourage hotel operators to differentiate and diversify their product offering, according to JLL’s Top Owners & Operators – Australian Accommodation Survey 2015.
At the same time, JLL said strong trading market fundamentals in major cities are anticipated to result in ongoing supply growth in the short to medium term.
Combined with a resurgence resort markets, JLL forecasts this will see the introduction of new brands will present an opportunity for owners and operators to experiment with a more diverse product offering, and broadening overall appeal to different segments.
A number of projects are from new and emerging brands in the Australian tourism accommodation market such as DoubleTree by Hilton, Autograph Collection by Marriott, Ritz-Carlton, Aloft by Starwood, QT and Atura by Rydges, and TRYP by Wyndham.
The Australian Bureau of Statistics’ Survey of Tourist Accommodation registered a total of 248,573 in Australia as at June 2015. According to JLL, the top ten owners accounted for 10.1% of Australia’s total room supply at the end of 2015, growing by 0.9% per annum since 2000, and the top ten operators accounted for 40.4%, at a growth rate of 5.5% per annum.
The Abu Dhabi Investment Authority, the largest sovereign wealth fund in the Middle East, has remained the top accommodation owner in the country since its takeover of the TAHL portfolio in 2013, accounting for 16.3% of the top ten owners’ rooms. Meriton Serviced Apartments maintained its second ranking, with the largest increase in room inventory in the top ten with 11.2%, whilst the Schwartz Family Company came in at third.
Also in the top ten owners were Event Hospitality and Entertainment Limited in fourth, followed by Toga Far East Hotels, Crown Limited, Tucker Box Hotels Group, TCC/Fraser Hospitality, Ascendas Hospitality Trust and Hotel Grand Central.
The top ten operators ranking order did not change, with Accor retaining its top position, followed by Mantra Group, Choice Hotels Australasia, Toga Far East Hotels, and Event Hospitality and Entertainment Limited in the top five. Rounding out the top 10 were Quest Apartments in sixth, followed by InterContinential Hotels Group, Oaks Hotels and Resorts, Best Western and Hilton Hotels of Australia.
Australian Property Journal
