Asian tourist growth boosting hotel performance

Transcription

1 Visitors Australia Hotels Q2 Asian tourist growth boosting hotel performance $18 $ % 7.1 million +8% *Arrows indicate change from previous year. Key Points CONTINUED STRONG GROWTH FROM THE ASIAN TOURIST MARKET Annual RevPAR growth for the year ending June was 3.% reaching $139 ADR increased 1.7% to reach $18 for the year ending June National occupancy jumped to 7.7% recording a growth of 1.3% Top performers were Cairns and Hobart who are registering 11.1% and 1.7% increases in RevPAR for the year ending June Visitor arrivals reached record highs of 7.1m, an increase of 9% on 21 and domestic overnight trips were up 8% to 89m Spending by international visitors in the year to March reached a record high of $2.bn, up 18% on 21, whilst overnight spend on domestic trips increased % to $8bn Sales volumes so far this year are just shy of $1.3 billion Chart 1: Asian Visitor Growth 1,2, 1,, 8, 6,, 2, China Singapore Malaysia Korea India Hong Kong Taiwan Source: TRA, CBRE Research Q2 CBRE Research CBRE, Inc. 1

2 % ADR vs Last Year AUSTRALIA HOTELS NATIONAL HOTEL PERFORMANCE CONTINUES TO INCREASE Chart 3: Hotel Performance KPIs y-o-y Change -% -2% % 2% % 6% 8% 1% Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research OUTLOOK POSITIVE FOR THE REMAINDER OF Chart 2: Occupancy and ADR Change Q2 vs Q2 21 2% 1% 1% Sydney % Canberra/ Hobart Cairns % ACT Adelaide Gold Coast -% Melbourne Brisbane Perth -1% -1% Darwin -2% DECLINE IN TRANSITION -2% -1% -1% -% % % 1% 1% 2% % OCC vs Last Year Source: STR Global, CBRE Research IN TRANSITION GROWTH RevPAR growth RevPAR decline Q1 CBRE Research CBRE, Inc. 2

3 Number of keys Total Hotel Sales ($m) AUSTRALIA HOTELS FIRST HALF OF RELATIVELY QUIET Chart 7:Total Hotel Sales 3, 2, 2, 1, 1, YTD Sales Volume ($m) Number of Hotels Sold Source: CBRE Research Table 1: Key Transactions YTD HOTEL LOCATION SALE DATE PRICE (m) KEYS Clifton Suites Canberra Apr-16 $6 13 Hotel Grand Chancellor Surfers Paradise May-16 $8 8 The Ribbon Darling Harbour Sydney Jun-16 $7 61 Mercure Parramatta Sydney Jun-16 $ 16 Source: CBRE Research Chart 6: National Supply Pipeline opening before January 219, 3, 2, 1, (1,) (2,) Adelaide Brisbane City Cairns Canberra / Darwin Gold Coast Hobart Melbourne City Perth City Sydney City ACT Permanent Withdrawal Source: CBRE Research Q2 CBRE Research CBRE, Inc. 3

4 Visitors nights (s) AUSTRALIA HOTELS HOTEL VISITOR NIGHTS CONTINUE TO RISE Chart : Visitor Nights in Hotels, Motels & Serviced Apartments 12, 1, 7,, 2, Source: TRA, CBRE Research Q2 CHINESE TOURISTS NOW ACCOUNT FOR 26% OF INTERNATIONAL VISITOR SPEND Chart : Share of International Spend YE March 29 vs YE March % 3% 8% 1% China United Kingdom New Zealand USA Singapore Malaysia Korea Hong Kong All Other 27 1% 7% 3% % 9% 36% % % % % 6% 26% 7% 9% Source: TRA, CBRE Research Q2 CBRE Research CBRE, Inc.

5 Visitor nights (s) AUSTRALIA HOTELS Adelaide INCREASE IN HOTEL PERFORMANCE $11 $ % Chart 9: Visitor Nights in Hotels, Motels & Serviced Apartments, 3, 2, 1, Source: TRA, CBRE Research, Q2 UPTICK IN TOURIST NUMBERS FOR Table 2: Supply Pipeline Property Development Type Peppers Adelaide Rebrand Hotel Holiday Inn Express Aloft Adelaide Lester Hotel Source: CBRE Research, Q2 Quality Number of MINIMAL SUPPLY INCREASES Current Status Opening Date September 21 April 217 January 218 January 218 Chart 8: Hotel Performance KPIs y-o-y Change 3% 2% 1% % -1% -2% Jun-12 Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc.

6 Visitor nights (s) AUSTRALIA HOTELS Brisbane FURTHER DECREASES IN PERFORMANCE $168 $ % Chart 11: Visitor Nights in Hotels, Motels & Serviced Apartments 8, 6,, 2, Source: TRA, CBRE Research, Q2 SLIGHT GROWTH IN TOURIST VOLUMES FOR Table 3: Supply Pipeline Property Richmont Hotel by Mantra Holiday Inn Express W Brisbane Westin Brisbane Development Type Source: CBRE Research, Q2 Quality Number of Current Status Opening Date May September April 218 November 218 DEVELOPMENT CYCLE NEARING PEAK Chart 1: Hotel Performance KPIs y-o-y Change 3% 2% 1% % -1% -2% -3% -% Jun-12 Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 6

7 Visitor nights (s) AUSTRALIA HOTELS Cairns CONTINUED PERFORMANCE GROWTH $13 $ % Chart 13: Visitor Nights in Hotels, Motels & Serviced Apartments, 3, 2, 1, Source: TRA, CBRE Research, Q2 OVERSEAS VISITORS UP FOR NO NEW SUPPLY ON THE HORIZON Chart 12: Hotel Performance KPIs y-o-y Change 3% 2% 2% 1% 1% % % -% -1% -1% Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 7

8 Visitor nights (s) AUSTRALIA HOTELS Canberra/ACT MIXED RESULTS FOR HOTELS $16 $ % Chart 1: Visitor Nights in Hotels, Motels & Serviced Apartments 3, 2, 1, SUBSTANTIAL TOURIST INCREASES Source: TRA, CBRE Research, Q2 Table : Supply Pipeline Property Development Type Quality Number of Current Status Opening Date Little National September 12 Hotel 21 Adobe September 86 Narrabundah 21 Vibe Hotel. November 191 Canberra 21 Mantra Canberra Redevelopment February Source: CBRE Research, Q2 LIMITED NEW SUPPLY IN SHORT TERM Chart 1: Hotel Performance KPIs y-o-y Change 3% 2% 1% % -1% -2% -3% Jun-12 Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 8

9 Visitor nights (s) AUSTRALIA HOTELS Darwin DOWNTURN CONTINUES FOR HOTELS $18 $1 66.1% Chart 17: Visitor Nights in Hotels, Motels & Serviced Apartments 2, 1, 1, DECLINE IN VISITOR NIGHTS FOR Source: TRA, CBRE Research, Q2 Table : Supply Pipeline Property Development Type Quality Number of Current Status Novotel Darwin Rebrand 136 Mecure Darwin Rebrand 181 Airport Mercure Darwin Extension 1 Airport 8 Mitchell Street TBA 8 Source: CBRE Research, Q2 OVERSUPPLY IN THE MARKET Opening Date March March March January 217 Chart 16: Hotel Performance KPIs y-o-y Change 3% 2% 1% % -1% -2% -3% Jun-12 Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 9

10 Visitor nights (s) AUSTRALIA HOTELS Gold Coast STRONG PERFORMANCE GROWTH $178 $ % Chart 19: Visitor Nights in Hotels, Motels & Serviced Apartments 8, 6,, 2, Source: TRA, CBRE Research, Q2 OVERSEAS VISITORS UP FOR Table 6: Supply Pipeline Property Development Type Jupiter s Casino Extension Hotel Jewel Luxury Resort Source: CBRE Research, Q2 Quality Number of 8 13 Current Status Opening Date November 217 December 218 LIMITED SUPPLY IN PIPELINE Chart 18: Hotel Performance KPIs y-o-y Change 3% 2% 1% % -1% -2% -3% -% Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 1

11 Visitor nights (s) AUSTRALIA HOTELS Hobart OPERATING IN PEAK CONDITIONS $168 $ % Chart 21: Visitor Nights in Hotels, Motels & Serviced Apartments 2, 2, 1, 1, SLIGHT DECREASES IN TOURISM Source: TRA, CBRE Research, Q2 Table 7: Supply Pipeline Property Development Type Quality Number of Current Status Macquarie Wharf. 11 Shed Hotel Crowne Plaza. Redevelopment 187 Hobart HOMO at MONA 16 Mooted Vibe Hotel 12 Hobart Source: CBRE Research, Q2 Opening Date December October 217 May 217 May 218 NEW SUPPLY TO PUT PRESSURE ON RATES Chart 2: Hotel Performance KPIs y-o-y Change 3% 2% 1% % -1% -2% -3% -% -% Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 11

12 Visitor nights (s) AUSTRALIA HOTELS Melbourne OVERALL POSITIVE RESULTS $186 $1 83.3% Chart 23: Visitor Nights in Hotels, Motels & Serviced Apartments rolling annual) 1, 1,, MINOR DECREASES IN TOURISM IN Source: TRA, CBRE Research, Q2 Table 8: Supply Pipeline Property Development Type Quality Number of Current Status QT Hotel 188 Melbourne Aloft Melbourne. 312 Parkroyal 281 Docklands Four Points 32 Docklands Source: CBRE Research, Q2 NEW SUPPLY ON THE WAY Opening Date September August 217 July 218 August 218 Chart 22: Hotel Performance KPIs y-o-y Change 3% 2% 1% % -1% -2% Jun-12 Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 12

13 Visitor nights (s) AUSTRALIA HOTELS Perth MARKET SLIDE CONTINUES $192 $1 81.% Chart 2: Visitor Nights in Hotels, Motels & Serviced Apartments 6,, 2, Source: TRA, CBRE Research, Q2 DOMESTIC VISITORS RETURN IN Table 9: Supply Pipeline Property Sage Hotel West Perth Quest Fremantle Development Type Redevelopment Quest Harbour Village Extension Crown Towers Burswood Source: CBRE Research, Q2 Quality Number of Current Status Opening Date May June June Feb 217 SIGNIFICANT INCREASES IN SUPPLY Chart 2: Hotel Performance KPIs y-o-y Change 1% % % -% -1% -1% -2% Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 13

14 Visitor nights (s) AUSTRALIA HOTELS Sydney CONTINUED PERFORMANCE GROWTH $217 $18 8.% Chart 27: Visitor Nights in Hotels, Motels & Serviced Apartments 2, 1, 1,, VISITOR LEVELS UP FOR Source: TRA, CBRE Research, Q2 Table 1: Supply Pipeline Property Development Type Quality Number of Current Status Pullman Sydney 229 Airport Altitude TBA 266 Parramatta Park Royal Extension 9 Parramatta Alpha Hotel Eastern. Extension 6 Creek Source: CBRE Research, Q2 LIMITED IMPACT OF NEW SUPPLY Opening Date June June June July Chart 26: Hotel Performance KPIs y-o-y Change 2% 1% 1% % % -% -1% Jun-12 Jun-13 Jun-1 Jun-1 Jun-16 Source: STR Global, CBRE Research, Q2 Q2 CBRE Research CBRE, Inc. 1

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