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WAโs hotel market is outperforming other states, recording the ๐ต๐ถ๐ด๐ต๐ฒ๐๐ ๐ผ๐ฐ๐ฐ๐๐ฝ๐ฎ๐ป๐ฐ๐ ๐ป๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น๐น๐ ๐ฎ๐ป๐ฑ ๐๐๐ฟ๐ผ๐ป๐ด ๐ฟ๐ฒ๐๐ฒ๐ป๐๐ฒ ๐ด๐ฎ๐ถ๐ป๐ ๐ถ๐ป ๐ฎ๐ฌ๐ฎ๐ฐ.
CBREโs latest hotel outlook shows that Perthโs hotel occupancy was at 79 per cent in the three months to December 31, compared with a national figure of 71 per cent. This compares with 2019, when Perthโs hotel occupancy was 76 per cent. The Western Australian capital also recorded a 7 per cent jump in its revenue per room (RevPAR) last year to $180.
CBRE noted that the future for Perthโs hotel market looked strong, with Perth Airportโs $2 billion redevelopment to accommodate 11 new international flight routes set to fuel demand.
โTravel to the state driven by the strength of the resource sector along with an increasing number of international flight routes ensures the Perth hotel operating market is well posed to continue its upward performance trajectory,โ – CBRE WA head of capital markets Aaron Desange.
WA should continue to benefit in the sector with Perth Airportโs $2 billion redevelopment to accommodate 11 new international flight routes set to fuel demand. Continued investment into WA stadiums has also attracted key global acts and sporting events, boosting the hotel market.
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Hotels. Acure.
Acure is very active in the hotel space, with ๐บ๐๐น๐๐ถ๐ฝ๐น๐ฒ ๐ฎ๐๐๐ฒ๐๐ ๐๐๐ฝ๐ฝ๐ผ๐ฟ๐๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ฟ๐ฒ๐๐ผ๐๐ฟ๐ฐ๐ฒ๐ ๐๐ฒ๐ฐ๐๐ผ๐ฟ ๐ถ๐ป ๐๐ต๐ฒ ๐๐๐ฎ๐๐ฒ๐ ๐ป๐ผ๐ฟ๐๐ต. As well as recent acquirements of metro accommodation including ๐ฆ๐ฒ๐ฏ๐ฒ๐น ๐ ๐ฎ๐ป๐ฑ๐๐ฟ๐ฎ๐ต ๐ฎ๐ป๐ฑ ๐ค๐๐ฒ๐๐ ๐๐ฟ๐ฒ๐บ๐ฎ๐ป๐๐น๐ฒ ๐ฎ๐ ๐ฝ๐ฎ๐ฟ๐ ๐ผ๐ณ ๐๐ผ๐๐ฝ๐ถ๐๐ฎ๐น๐ถ๐๐ ๐๐ฟ๐๐๐ ๐ก๐ผ. ๐ญ.
The uptick in growth of WA tourism and work tourism has seen our assets benefit from strong performance and returns for investors.
Acureโs Investment in hotels dates as far back as 2014, with our purchase and operation of a hotel asset following in 2017.
We see great potential in hotels around the state going forward especially given the current supply in WA.
In 2024, Perth recorded a 3 per cent lift in domestic visitors and 15 per cent growth in international visitors.
The cityโs volume of Chinese arrivals was up by 20 per cent on pre-pandemic levels and domestic visitation to Perth was up by 19 per cent.
In terms of supply, Murdochโs Courtyard Perth by Marriott was the only new hotel in Perth in 2024, adding 150 rooms.
โInvestor caution defined the Australian hotel market in 2024, with transaction volumes having been impacted by the higher for longer interest rate environment and moderating RevPAR growth,โ
โAs interest rates ease in 2025, investor confidence is likely to improve, and transactions volumes increase.
โThe Australian market is attractive for its stable economic and political environment with a significant level of capital ready to re-enter the market.โ
-CBRE HOTEL OUTLOOK 2025