Good news for hospitality sector
By Clyde Mooney
Colliers International has released its Australian Hotel Investment Research & Forecast Report for the 2011 fourth quarter, with positive indicators for the hospitality industries.
It says fresh data from Tourism Australia shows Chinese tourism increased 23 per cent on a year to September basis, bringing $3.26 billion to the Australian economy in 2010.
While the traditional markets of Japanese and Korean visitors has declined Australia’s closest neighbour, Indonesia, has generated a 77 per cent increase in visitors, and growth out of India and Malaysia is also exceptional.
Latest statistics show that the increases in tourism are translating into healthy revenue and occupancy rates in hotels, with Perth showing the most significant growth.