Barrie Harrop’s Post

Melbourne does not want to lose the Grand Prix. "A strategic and diversified calendar of citywide events play a crucial role in driving hotel demand in Australia’s hotel markets, new CBRE Asia Pacific research shows. CBRE’s Needle Movers: The Top Events Driving Australian Hotel Demand report analysed 15 major sporting, cultural, and business events in Sydney, Melbourne, and Brisbane in 2023/2024 to measure the direct impact on hotel room demand and revenue. The most lucrative event analysed was the Sydney Harbour NYE Fireworks in 2023 which resulted in a 32 per cent increase in occupancy and a 129 per cent rise in average daily rate (ADR). The event generated nearly $51 million in extra room revenue. This was closely followed by the Australian Grand Prix Corporation 's event in Melbourne with an increase in room revenue of $50 million." (I'm guessing that the $1m difference is probably within the statistical margin of error). Report from Property Council of Australia #tourism #grandprix #hotels https://lnkd.in/eJ788zk6

Our latest report Needle Movers: The Top Events Driving Australian Hotel Demand is out now.    CBRE analysed 15 major events across Sydney, Melbourne, and Brisbane, revealing a strong boost in hotel demand and revenue. Over 430,000 in extra room nights were sold, generating an additional $337 million in hotel revenue. Occupancy increased by an average of 16%, while daily rates surged 35%. View the full report to reveal the major events and their impact on hotel performance: https://lnkd.in/gPr3UVBX #CBRE #CBREHotels

CBRE Hotels latest report Needle Movers highlights the importance of having a strong events calendar to support Hotel trading performance. Not only for existing properties but also to support the development of new hotels.

Checking in: The need for expanded hotel capacity in the city The event season is in full swing, with diverse conferences and gatherings across industries. The recent NBA General Annual Conference, which saw a massive turnout, is a prime example of how these events drive the city's hospitality sector. As expected, demand for accommodation soared, leading to near-total bookings across the hospitality spectrum. With premier hotels like Radisson Blu Anchorage Hotel operating at full capacity, lesser known hotels and hospitality centers were not left out, benefiting from the overflow of attendees. While this surge benefits hotels and creates a ripple effect across the sector - restaurants, transportation services and local attractions, it also underscores a critical challenge: the city's hotel capacity is insufficient to meet growing demand. As we host large-scale events, the need for additional hotel rooms becomes apparent. The current hotel infrastructure, while robust, is not sufficient to cope with the demands of major events. Expanding hotel infrastructure would meet immediate visitor needs, enhance the city's attractiveness for international events, and provide a significant boost to the local economy, creating jobs in construction, hospitality, and related sectors. It would also generate additional tax revenue, which could be reinvested into the community, improving infrastructure, public services, and the overall quality of life for residents and visitors. Finally, the impact of events like the NBA Conference on hotel occupancy and the broader economy can not be overstated. These events bring a surge of visitors and spending to the city, benefiting a wide range of businesses. However, the current hotel capacity is insufficient to fully capitalize on these opportunities. By expanding hotel capacity, the city can better accommodate future events, stimulate economic growth, and solidify its reputation as a premier destination for small, medium, and large-scale events. #MoyoOgunseinde #events #hotels #RadissonBlu #hospitality

The Art of Successful Events. Organizing a successful event requires a blend of creativity, precision, and foresight. Whether it's hosted in one of Ikoyi's luxurious hotels or a chic boutique space, attention to details such as location, decor, and guest accommodations can make a significant impact on the guest experience. From the initial planning stages to the final farewell, every element counts. The choice of venue sets the foundation for the event. Opting for a place that embodies elegance, sophistication, and accessibility, like The Wheatbaker Lagos, can transform an event into an extraordinary experience. Nestled in the heart of Ikoyi, The Wheatbaker is celebrated for seamlessly combining modern style with exceptional hospitality, making it ideal for both intimate gatherings and larger events. Its central location adds convenience and a touch of prestige for guests. Decor plays a crucial role in establishing the atmosphere and theme. The Wheatbaker Lagos is known for its expertise in creating tailor-made settings, ranging from timeless and refined to modern and playful. With a skilled team that curates every detail—the hotel ensures that each space aligns perfectly with the host's vision, captivating attendees from start to finish. Guest accommodation is another essential factor for a smooth event experience. Whether guests are from within Lagos or traveling in, having premium on-site lodging allows them to be fully present without the burden of transport worries. The Wheatbaker’s rooms and suites provide luxury and comfort, offering an ideal place to relax after the event. What distinguishes The Wheatbaker is its comprehensive event planning services. From gourmet catering options to an experienced events team that anticipates every need, the hotel delivers an all-in-one solution. This approach lets hosts enjoy the event while the team handles all the intricate details. Choosing The Wheatbaker Lagos for your event means ensuring your guests have an experience they will cherish long after the event is over. Be it a wedding, corporate function, or a social gathering, The Wheatbaker’s dedication to excellence guarantees that your event is not just successful, but truly unforgettable. #thewheatbaker #thearthotel #ekoevents #lagoslife #ekoexperience

It is interesting that Dean Dransfield is so upbeat with his forecasts given that the inbound holiday and corporate markets are still lagging behind 2019 levels. The net deficit of Aussie outbound v holiday inbound continues to widen and the once-crucial China groups market appears in terminal decline. What this means is that local hotels will need to provide the "sizzle" to attract domestic leisure stays. As Dean suggests, this can be achieved through providing high-quality wellness facilities and innovative restaurant concepts, which seems to be at the core of the Sofitel Sydney Wentworth regeneration. I think Melbourne is going to be the "bellwether" city for the industry, given its massive new supply and sluggish economy, but with Brisbane and Sydney in the AFL Grand Final this weekend, the answer is simple - a constant diet of bread and circuses, please! #hotels Dransfield Hotels and Resorts #hotelmanagement Jerry Schwartz Accommodation Australia Accommodation Australia NSW https://lnkd.in/gjsZPj2P

There’s no question that staging events in the Caribbean elevates the attendee experience. Planning a meeting in this region does require more advance preparation than domestic options, but the exceptional dining and a wealth of outdoor and cultural experiences make the task well worth it. Read more: https://bit.ly/3x2mbiC Aruba Tourism Authority #aruba #meetingsindustry #meetingprofs #meetingplanners #eventprofs #eventplanners

Is your city missing out on the benefits of major events? Major events can transform city life, driving hotel demand, boosting rates, and adding vibrancy, especially during low seasons. Our latest report by Peter Hamilton, Ally McDade, and Jack Mana reveals how recent events across Australia and New Zealand have significantly impacted hotel demand. By analysing market performance data around major event dates and engaging with market participants, we’ve uncovered critical insights into the power of events and how cities can leverage them for maximum benefit. Read the full report: https://cbre.co/4eNmSwk #HospitalityIndustry #Hotels #SustainableGrowth #CBRENewZealand CBRE Hotels

Great figures representing the economic impact of hotel and tourism in a major metropolitan city. Look at these figures! Let’s keep up the momentum for Summer 2025. “Visitors to Chicago booked 3.4 million hotel rooms from June through August, up 5% over last summer, according to data released Tuesday by Choose Chicago, the city’s tourism arm. The increased demand generated $942 million in revenue for Chicago hotels and $53 million in city tax revenue, both up 13% over last summer to all-time highs, according to Choose Chicago.”

Our latest market focus article is on our home city of #Glasgow. Andrew Renouf looks at why the city’s hotels are performing so well in 2024 following substantial supply increases and while performance is softening in other UK cities. Quality of supply, breadth of demand, hosting of major high-profile events and the knock-on from Edinburgh’s incredible success are all factors and we believe that as market conditions improve, there will be increased opportunities for new hotel development #HotelDevelopment #GlasgowLife https://lnkd.in/eBTRDpbD