Australia: Hotel Market Recovery from Covid-19
By Ron de Wit on June 23, 2021
Despite Australia’s relative success in controlling the spread of COVID-19, the Australian hotel industry was hit hard by the onset of the global pandemic. However, its success in controlling the virus, together with a strong and large domestic travel market, has allowed for a positive return to growth in 2021.
Australia’s two largest markets, Sydney and Melbourne, continue to struggle due to a strong reliance on corporate travel, the events industry and a larger reliance on international source markets, though many other key markets across the country have bounced back to be close to pre-pandemic demand levels.
While intermittent outbreaks of COVID-19, and the subsequent reinstatement of restrictions on movement and border closures continue to impact upon consumer sentiment and the domestic market’s willingness to travel interstate, key markets across Australia are well poised to continue on their path to a full recovery.
This report by Horwath HTL Australia, provides an outlook for 9 key city markets across Australia assessing the recovery made to date in 2021 and the outlook for future growth.