Horwath HTL Market Report: Australian Hotel Market Recovery from Covid-19
Despite Australia’s relative success in controlling the spread of COVID-19, the Australian hotel industry was hit hard by the onset of the global pandemic. However, its success in controlling the virus, together with a strong and large domestic travel market, has allowed for a positive return to growth in 2021.
Australia’s two largest markets, Sydney and Melbourne, continue to struggle due to a strong reliance on corporate travel, the events industry and a larger reliance on international source markets, though many other key markets across the country have bounced back to be close to pre-pandemic demand levels.
While intermittent outbreaks of COVID-19, and the subsequent reinstatement of restrictions on movement and border closures continue to impact upon consumer sentiment and the domestic market’s willingness to travel interstate, key markets across Australia are well poised to continue on their path to a full recovery.
This report by Horwath HTL Australia, provides an outlook for 9 key city markets across Australia assessing the recovery made to date in 2021 and the outlook for future growth.
About Horwath HTL
Horwath HTL is focused one hundred percent on hospitality, tourism, and leisure consulting. Our services cover every aspect of hotel real estate investment, tourism, and leisure development. Our clients choose Horwath HTL because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each client project is unique, and they rely on us to utilize the experience we have gained throughout our 100-year history to assist them in achieving their goals. Being a global firm with 52 offices in 40 countries, we have successfully carried out over 40,000 assignments for both public and private clients. As part of the Crowe Global network, a top-ten accounting, and financial services network, Horwath HTL is the number one choice for companies and financial institutions looking to invest and develop in the industry.
For more information, please visit www.horwathhtl.com.
