Statistics South Africa’s Post

South African hotels recorded an occupancy rate of 47,2% in September, up from 42,3% in August. Read more here: https://lnkd.in/dPMMUinD #StatsSA #GovZAUpdates #WeDoTourism

South African hotels recorded an occupancy rate of 46,9% in November, up from 46,1% in October. Read more here: https://lnkd.in/d3tiE_CR #StatsSA #GovZAUpdates #WeDoTourism

#SouthAfrica's tourism sector, particularly hotel occupancy, is struggling to return to pre-#Covid levels. Any research on what impact Airbnb and Booking.com are having on hotel occupancy, particularly in City of Cape Town? Africa Insights Associates

A tale of two Lagosian hotels: Our survey reveals a significant price gap between luxury stays (Legend Hotel, $346/night) and budget-friendly options (Joygate, $41/night). What are the implications for business travel in Lagos? Download our comprehensive 2024 Nigeria Real Estate Report for expert insights: https://lnkd.in/dyqyum8P #LagosHotels #TravelNigeria

A tale of two Lagosian hotels: Our survey reveals a significant price gap between luxury stays (Legend Hotel, $346/night) and budget-friendly options (Joygate, $41/night). What are the implications for business travel in Lagos? Download our comprehensive 2024 Nigeria Real Estate Report for expert insights: https://lnkd.in/dyqyum8P #LagosHotels #TravelNigeria

Key performance indicators for the Australian Hotels market continued to improve over 2023, driven by strong international and domestic demand. Substantial growth in ADR and RevPAR has seen investors look to hotels as an inflation hedge, driving investment volumes. In this report we highlight these key factors and provide an outlook on our expectations for hotel market performance in the short-term.

Underscoring global interest in Africa's travel and tourism sector, the total number of rooms operated by major chains on the continent is expected to soar 75% to 175,346 in the coming years, with "more than three-quarters of the properties expected to be upscale, upper upscale, or luxury locations," according to W Hospitality Group. Click the link below to view the statistical breakdown of the market segments targeted by new constructions | Adelaide Changole, CFA Trevor Ward #AfricaTourism #HospitalityIndustry https://lnkd.in/eah-wxWc

The latest Colliers Hong Kong Hospitality Insights for H1 2024 shows a surge in tourist arrivals, with a 64% increase in visitors from the same period in H1 2023, yet hotel performance remains challenged. Despite the year’s strong start, average daily rate (ADR) weakened 5-8% YoY from March to June as the market adapts to more budget-conscious travellers. On the investment front, we continue to see a trend of hotel conversions to student accommodation to meet demand. Looking ahead, traditional holidays and events may uplift hotel performance. Connect with Shaman Chellaram for his thoughts on the future of the hospitality sector. Find out more: https://ow.ly/ELob50Tixua #ColliersHK #Hospitality #Tourism #Hotels #StudentAccommodation #ColliersAPAC

What lies ahead for Australia’s hotels and hospitality scene? Our latest Hotels Australia Overview and Outlook highlights Australia’s performance story, particularly with domestic travel surpassing levels seen prior to the pandemic, key investment trends, and the 2024/25 outlook. Despite the surge in outbound international travel, the continued increase in inbound tourism will help boost Australia’s hotel occupancy levels whilst spurring room rate growth in most markets, notably Sydney and Brisbane.   Find out more here: https://lnkd.in/gSFWXqKE   Troy Craig Michael Simpson Ally McDade CBRE Asia Pacific   #CBREHotels #CBREInsights

Investors continue to look to the hotel asset class for its hedge against inflation, given the daily mark to market income profile. This is illustrated by the buoyant hotel transaction market in 2023, where deals above $10 million totaled AUD 2.36 billion in 2023, up 10% from the previous year. This is the fourth most active year by number and second most active year by dollar value on record.   Performance indicators such as Average Daily Rate (ADR), Occupancy and Revenue Per Available Room (RevPAR) also experienced solid growth in 2023. With expectations that interest rate cuts are likely to commence from the end of 2024 and into 2025, investment activity is forecast to remain at elevated levels as high-conviction equity capital is deployed. Find out more from the Hotels Australia Overview and Outlook: https://lnkd.in/g3u-k2tW CBRE Hotels Troy Craig Ally McDade Izzy O'Hara Darcy Badgery Tom Gibson Raymond Tran Vasso Zographou Damian Kelly Alexia Morelli Nick Hill Ashley Ferguson Scott Callow Wayne Bunz Hayley Manvell Paul Fraser Northy Chen Taylor Morris Aaron Desange Ryan McGinnity Roxy Hindley Adam Nadile Rosie Young Ken Smith Rebecca Tomney Alex Richardson Jacqueline Reiser Louise Venables Lucinda Fowler Jessica Collins Collins Jack Tronson Jack Lowe Kire Georgievski Peter Hamilton Jack Mana Ekaterina Ivandikova Steve Carroll #CBREHotels #CBREInsights