Market Report: Melbourne, Australia
By Damien Little on April 9, 2019
Over the last 10 years the Melbourne hotel market has recorded solid performance levels with occupancy consistently in the 80s and with ADR recording moderate increases year-on-year. The market has a reputation of having been able to overcome supply growth in the past through its strong year-round events calendar and it is with this in mind the industry is confident that the current burst of hotel supply additions will be able to be successfully absorbed without causing any major stress to the market.
This latest report by Damien Little, Horwath HTL Asia Pacific, provides a break down of where new supply additions will be located, as well as a break down by class so as to provide a greater insight as to the potential impacts of new supply additions on the Melbourne hotel market.