Australia's RevPAR growth continues in 2018

The most recent research released by Savills Hotels reveals that Australia's average RevPAR has seen an increase of 3.9%, with Darwin (up 18.3%), Cairns (up 6.9%) and the Gold Coast (up 6.5%) the stand out performers.
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According to Savills most recent hotel research, Australia's average RevPAR has seen an increase 3.9%. The best RevPAR growth markets include Darwin (up 18.3%), Cairns (up 6.9%) and the Gold Coast (up 6.5%), with the worst being Hobart (down 9.2%).
Sydney continues to outperform Australian markets with a RevPAR gap of $43+ over the next best market performer (Melbourne wide market). Sydney Luxury hotels achieved 91.4% Occ and $391 ADR, contributing to RevPAR growth of 3.8% to record $358 RevPAR, which is $47+ ahead of Melbourne’s Luxury market (93.3% Occ, $333 ADR and $311 RevPAR)
Melbourne continues to struggle to grow RevPAR as new hotel supply and generic apartment product enters the market and Canberra falls moderately on softer Occupancy and ADR as supply exceeds room night demand growth.
Hobart records the third highest RevPAR ($163) across Australia despite a fall in all market performance KPI’s and the Gold Coast, in the lead up to the Commonwealth games, grews both Occupancy and ADR achieving the fourth highest RevPAR across Australia.
Australian International Visitor Highlights (Y/E December 2017)
  • Visitors up 7% to 8.1m
  • Visitor Nights up 5% to 265m
  • China, India and Hong Kong drive double digit growth in Visitors, whilst China and Japan recorded double digit growth in Visitor Nights 
Australian Domestic Visitor Highlights (Y/E December 2017)
  • Visitors up 7% to 97.2m
  • Visitor Nights up 5% to 351m
  • VIC and TAS recorded double digit growth in Visitors and Spend, whilst the ACT recorded double digit growth in Visitors and Visitor Nights
  • WA recorded negative growth in Visitors, Visitor Nights and Spend 
Australian Economic Update
The Australian economy grew at a rate of 2.4% over the year to December 2017, marginally below market expectations. However Australia’s economy is expected to continue to grow, with growth of 2.75% in 2017-18 and 3% in 2018-19 with predictions that the current RBA cash rate of 1.5% unlikely to move in 2018.
The World
Global economic conditions remain strong in Q1 2018 with this momentum expected to continue throughout 2018 with global growth forecast to be 3.8% for both 2018 and 2019. China’s GDP growth will slow if the proposed trade tariffs are imposed by the USA, with economic impacts globally as a result. Meanwhile other key country contributors to global GDP which recorded stronger-than-expected growth were Japan, Korea and Germany. 




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