Australian hotel prices increase as dollar drops

Australian hotel prices have increased in the first half year of 2014 as the Australian dollar has depreciated, according to the Hotels Price Index.

The Index shows that the average hotel price rose 4 per cent to AUD$177 per night in the first half of 2014.

The fall in the Australian Dollar has allowed inbound visitors to enjoy Australian destinations at reduced prices, with 9 per cent more tourists taking advantage of the more favourable exchange rate.

Perth hotel prices fell to 3 per cent to AUD $193  whilst Brisbane and Melbourne shared a similar average hotel price rate – AUD $169 and AUD $168 – following a one per cent and three per cent rise respectively.

The Sunshine Coast experienced the greatest rise in hotel prices, with the average price in the region reaching AUD $184 per night.

Cairns also saw a lift of nine per cent, with average prices at AUD $144 per night. vice president and managing director Abhiram Chowdry said that the falling dollar has been of great benefit to Australian hoteliers.

“Australian hoteliers have enjoyed a very solid start to the year thanks to an increase in visitor numbers following the weakening of the Australian Dollar. Only two destinations in Australia experienced price decreases, highlighting the good position the industry is in as international travellers are lured to Australia and domestic travellers return to travelling at home.

“With demand set to outstrip supply as occupancy rates in Australia are forecasted to grow, the Australian hotel sector is set to see some golden years of growth in the next coming years.

“These factors combined with continued inbound growth and Australia’s commitment to double tourism’s contribution to the country’s GDP, means Australian hoteliers are indeed in a prime position.”

– ETB News

Categories: Uncategorized