|Australian and New Zealand hotel development.|
Wednesday, 30th July 2014
Source : JLL
|Australia's hotel development pipeline has grown over the past year with a relatively equal proportion of projects under construction and likely proposed; |
Currently there are over 7,500 rooms in the development pipeline representing the highest level in more than a decade.
On the basis of known projects, room night supply across Australia's ten major accommodation markets is forecast to increase on average by 1.6% per annum by the end of 2018.
JLL accommodation forecasts assume a slightly higher rate of growth of 2.6% per annum, having allowed for an element of unanticipated supply and/or that some mooted projects will inevitably advance.
This is considerably lower than the long term average increase of 3.7% per annum but above the level recorded over the past ten years.
Find out more in the Hotels & Hospitality Group's latest Australian and New Zealand Development Register.
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