Queenstown Shines, Auckland Struggles
New Zealand Hotel Performance Focus October 2024
The New Zealand hotel industry faced mixed performance in October 2024, with national RevPAR declining by 5.4% compared to the previous year, though regional markets like Queenstown saw significant gains. Factors such as increased room supply, reduced government travel, and challenges in international visitor recovery contributed to the overall decline, particularly in Auckland.
New Zealand Hotel Market Faces Mixed Performance in October
New Zealand’s hotel sector faced a challenging October, with national RevPAR down 5.4% year-on-year, though performance varied by region. Auckland struggled with a 19.5% drop in RevPAR due to oversupply and declining demand, while Queenstown continued its strong recovery with nearly 15% growth. Christchurch and Wellington posted modest gains, supported by international arrivals and key events. With airlines increasing capacity for the summer season, the coming months will be crucial for the industry’s recovery.
The industry remains optimistic about an increase in international and domestic visitor flows, which could support higher occupancy and revenues. Dive into the full report for key insights on market trends and future expectations.
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