Investment Outlook Newsletter
The current edition of Investment Outlook illustrates Perth's combination of significant improvements in occupancy and room rate resulting in explosive RevPAR growth. RevPAR in Perth jumped by an incredible 22.9% in the March quarter and 19.2% for the year to $97.37.
A quick analysis of recent statistics for the quarter ending september 2007 for Perth CBD hotels shows solid improvements in occupancy on top of double digit gains in room rate RevPAR. Perth is a market hoteliers are keen to have representation in. Occupancy is now above 80% which means further increases in demand will be matched by continued room rate growth. The past 5 years have seen growth in demand in the Perth market and this trend has continued with a 3.4% increase in demand in the year to March 2007.
With such good fundamentals, it should not be long before developers find the confidence to supply more rooms.
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Investment Outlook - Tourism Western Australia's Investment Newsletter
October 2007
Letter from the CEO detailing Perth's explosive RevPar and positive investment indicators
The highlights of the last quarter were Tourism WA's Executive Director David Etherton's visit to Dubai and Sydney where he presented on panel sessions, a new 5 Star hotel and an Invest Australia office opening in Perth
Perth is enjoying solid improvements in occupancy on top of double digit gains in room rate and RevPAR, making it a market hoteliers are keen to have representation in.
The Department for Planning and Infrastructure in conjunction with Tourism WA have released a site in Denham in the Shark Bay World Heritage area
The Old Treasury Buildings will soon see a major facelift with the introduction of a top quality hotel development and operation
Hotel developments and acquisitions in Perth and regional WA
In August this year Tourism WA was part of a team that explored eco lodge tourism models focusing on the Cape Range National Park near Exmouth
Find previous editions of Investment Outlook, Tourism Western Australia's Investment Newsletter here.