Darwin and The Gold Coast shine

Transcription

1 MARKETVIEW Australia Hotels, Q2 218 Darwin and The Gold Coast shine $188 $ % 8.3million 6.% *Arrows indicate change from previous year. Key Points DARWIN AND GOLD COAST PIP ADELAIDE AND CAIRNS AS TOP PERFORMERS Annual RevPAR growth for the year ending June 218 was 3.2% reaching $144 ADR increased 1.7% to reach $188 for the year ending June 218 National occupancy jumped to 76.4% recording growth of 1.4% Top performers were Darwin and the Gold Coast which registered annual RevPAR increases of 8.2% and 7.1% respectively for the year ending June 218 International visitor arrivals reached a record high of 8.3m, an increase of 7.% on 217, and domestic overnight trips were up 6.7% to 97.8m Spending by international visitors in the year to March 218 was $29bn, up 6.7% on 217, whilst overnight spend on domestic trips increased.% to $6.1bn Hotel sales volume for Q2 218 was ~$27m Chart 1: Rolling annual change in RevPAR June % 1% % % -% -1% -1% Perth Hobart Melbourne Sydney Brisbane Canberra and ACT Cairns Adelaide Gold Coast Darwin Source: STR, CBRE Research Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 1

2 MARKETVIEW AUSTRALIA HOTELS National Overview *Rolling annual June-18 Adelaide Occupancy 79.4% 1.9% ADR $18 4.1% RevPAR $12 6.% Brisbane Occupancy 73.6% 1.% ADR $17 1.1% RevPAR $ % Cairns Occupancy 84.6%.7% ADR $12.% RevPAR $128.7% Canberra Occupancy 78.2% 1.9% ADR $174 2.% RevPAR $136 4.% Darwin Occupancy 7.2% 7.8% ADR $1.3% RevPAR $ % Gold Coast Occupancy 72.8% 2.% ADR $197.% RevPAR $ % Hobart Occupancy 78.8% -4.6% ADR $ % RevPAR $14-2.9% Melbourne Occupancy 82.8% -.% ADR $18.2% RevPAR $13 -.3% Perth Occupancy 74.% -1.7% ADR $ % RevPAR $12-6.3% Sydney Occupancy 8.3%.% ADR $23 2.4% RevPAR $ % Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 2

3 Number of Keys Jun-1 Jun-11 Jun-12 Jun-13 Jun-14 Jun-1 Jun-16 AUDm MARKETVIEW AUSTRALIA HOTELS SALES VOLUMES EASE IN Q2 218 Chart 3:Hotel Sales *above $1million Q2 $1,4 $1,2 $1, $8 $6 $4 $2 $ Source: CBRE Research Foreign Domestic Number of Sales (RHS) Table 1: Notable Transactions Q2 218 NATIONAL SUPPLY PIPELINE HOTEL LOCATION SALE DATE PRICE (m) KEYS Bell City Hotel Melbourne May-18 $ Emporium Hotel Brisbane Apr-18 $ Metro Hotel Tower Mill Brisbane May-18 $1 41 Source: CBRE Research Chart 2: National Supply Pipeline opening before December 222 9, 8, 7, 6,, 4, 3, 2, 1, -1, 41% 3% 43% 26% 14% 24% 28% 73% 8% 8% Adelaide Brisbane City Cairns Canberra Darwin Gold Coast Hobart Melbourne City Perth City Sydney City Proposed DA Applied DA Approved Recently Opened Removed Source: CBRE Research Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 3

4 Visitor nights (s) Adelaide STRONG FIRST HALF OF THE YEAR $18 $ % Chart : Domestic and International Visitor Nights (historical and forecast) 1, 1,, SLIGHT DECLINE IN VISITOR NUMBERS Source: TRA, CBRE Research, Q2 218 Table 2: Supply Pipeline Property Development Type Quality Number of Keys Atura Adelaide January TBA 16 Airport Tribe Hotel TBA 26 DA Approved September Wakefield Street Frome St Mixed January TBA 28 Use Development 22 Source: CBRE Research, Q2 218 MINIMAL SUPPLY INCREASES Chart 4: Hotel Performance KPIs Rolling Annual Change 8% 7% 6% % 4% 3% 2% 1% % Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 4

5 Visitor nights (s) Brisbane BUSINESS TRAVEL SUPPORTING GROWTH $17 $ % Chart 7: Domestic and International Visitor Nights (historical and forecast)* 6,, 4, 3, 2, 1, STRONG GROWTH IN TOURIST VOLUMES Source: TRA, CBRE Research, Q * Note: visitor nights includes Gold Coast Table 3: Supply Pipeline Property Development Type Emporium Southpoint Westin Brisbane Art Series Hotel Howard Smith Wharves Source: CBRE Research, Q2 218 Quality Number of Keys 142 August 218 November January LIMITED HOTEL OPENINGS IN 218 Chart 6: Hotel Performance KPIs Rolling Annual Change 4% 2% % -2% -4% -6% -8% -1% Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc.

6 Visitor nights (s) Cairns SUSTAINED PERFORMANCE GROWTH $12 $ % Chart 9: Domestic and International Visitor Nights (historical and forecast)* 8, 6, 4, 2, Source: TRA, CBRE Research, Q * Note: visitor nights based on rest of Queensland INCREASE IN HOTEL NIGHTS Table 4: Supply Pipeline Property Development Type Quality Number of Keys Rydges Tradewinds Cairns Redevelopment TBA Abbott Street TBA 22 Hotel Bellview site TBA 161 DA Approved Source: CBRE Research, Q2 218 DEVELOPERS MOVING IN September 218 December June 22 Chart 8: Hotel Performance KPIs Rolling Annual Change 16% 14% 12% 1% 8% 6% 4% 2% % Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 6

7 Visitor nights (s) Canberra STRONG RESULT FOR HOTELS $174 $ % Chart 11: Domestic and International Visitor Nights (historical and forecast) 8, 6, 4, 2, Source: TRA, CBRE Research, Q2 218 DOMESTIC VISITATION DECREASES Table : Supply Pipeline Property Development Type Quality Number of Keys Eclipse House 13 DA Applied Malmo Bruce Hotel TBA 6 DA Approved Adina Apartment 132 Grand Hotel Source: CBRE Research, Q2 218 RISING SUPPLY IN 22 AND 221 December February 22 November 22 Chart 1: Hotel Performance KPIs Rolling Annual Change 14% 12% 1% 8% 6% 4% 2% % Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 7

8 Visitor nights (s) Darwin SOLID REVPAR GROWTH $1 $ % Chart 13: Domestic and International Visitor Nights (historical and forecast) DECLINE IN NIGHTS SPENT IN HOTELS 12, 1, 8, 6, 4, 2, Source: TRA, CBRE Research, Q2 218 Table 6: Supply Pipeline Property Development Type Quality Number of Keys Club Tropical 4 Resort 138 Best Western Darwin Airport Extension 4 Recently Opened September DA Approved TBA Westin Darwin 24 DA Approved Source: CBRE Research, Q2 218 A LACK OF SUPPLY SUPPORTS A RECOVERING MARKET January 221 Chart 12: Hotel Performance KPIs Rolling Annual Change 1% % % -% -1% -1% -2% Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 8

9 Visitor nights (s) Gold Coast GROWTH CONTINUES $197 $ % Chart 1: Domestic and International Visitor Nights (historical and forecast)* 6,, 4, 3, 2, 1, SLIGHT DECREASE IN VISITORS Source: TRA, CBRE Research, Q * Note: visitor nights includes Brisbane Table 7: Supply Pipeline Property Development Type Quality Number of Keys Wanda Vista 171 Aquis Pacific Point Hotel 8 DA Approved Wonderlust 4 DA Applied Source: CBRE Research, Q2 218 GROWING SUPPLY PIPELINE April December November 22 Chart 14: Hotel Performance KPIs Rolling Annual Change 1% % % -% Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 9

10 Visitor nights (s) MARKETVIEW AUSTRALIA HOTELS Hobart MARKET IN A STATE OF DECLINE $177 $ % Chart 17: Domestic and International Visitor Nights (historical and forecast) 6,, 4, 3, 2, 1, SLIGHT DECREASES IN VISITOR NIGHTS Source: TRA, CBRE Research, Q2 218 Table 8: Supply Pipeline Property The Tasman Vibe Hotel Hobart Hyatt Centric Development Type Quality 4 Number of Keys DA Approved June March March Source: CBRE Research, Q2 218 MORE SUPPLY IN PIPELINE Chart 16: Hotel Performance KPIs Rolling Annual Change 6% 4% 2% % -2% -4% -6% -8% Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 1

11 Visitor nights (s) Melbourne MORE MUTED PERFORMANCE $18 $ % Chart 19: Domestic and International Visitor Nights (historical and forecast) 1, 8, 6, 4, 2, STEADY GROWTH IN VISITOR NIGHTS Source: TRA, CBRE Research, Q2 218 Table 9: Supply Pipeline Property AVANI Central Melbourne Residences Novotel Melbourne ibis Melbourne Development Type Source: CBRE Research, Q2 218 Quality Number of Keys October 218 December 218 December 218 TESTING TIMES AHEAD Chart 18: Hotel Performance KPIs Rolling Annual Change 2% 1% % -1% -2% Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 11

12 Visitor nights (s) MARKETVIEW AUSTRALIA HOTELS Perth DECLINE CONTINUES $167 $12 74.% Chart 21: Domestic and International Visitor Nights (historical and forecast) 4, 3, 2, 1, Source: TRA, CBRE Research, Q2 218 GROWTH IN HOTEL VISITATION Table 1: Supply Pipeline Property DoubleTree by Hilton Perth Ritz Carlton Development Type Park Regis Subiaco Source: CBRE Research, Q2 218 Quality 4. Number of Keys January March December SIGNIFICANT INCREASES IN SUPPLY Chart 2: Hotel Performance KPIs Rolling Annual Change % % -% -1% -1% Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 12

13 Visitor nights (s) Sydney STEADY GROWTH CONTINUES $23 $ % Chart 23: Domestic and International Visitor Nights (historical and forecast) 12, 1, 8, 6, 4, 2, STRONG GROWTH IN DOMESTIC VISITORS Source: TRA, CBRE Research, Q2 218 Table 11: Supply Pipeline Property Vibe North Sydney Four Points by Sheraton Development Quality Type 4 4. Adina Grand Source: CBRE Research, Q2 218 Number of Keys RISING SUPPLY BUT IMPACT IS EXPECTED TO BE MINIMAL Recently Opened April 218 August 218 November Chart 22: Hotel Performance KPIs Rolling Annual Change 8% 7% 6% % 4% 3% 2% 1% % Source: CBRE Research, STR, Q2 218 Q2 218 CBRE Research 218 CBRE, Inc. 13

14 RESEARCH CONTACTS CBRE OFFICES Liability limited by a scheme approved under Professional Standards Legislation. Disclaimer: Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE.