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Sydney new hotels put pressure on occupancy

2018-08-03 Tag: Sydney hotels

Sydney hotels,Sydney new hotels put pressure on occupancy

 

New hotel room supply in Sydney, Australia has driven declines in both occupancy (despite the increase in demand) and hotel performance, according to a report from Horwath HTL Australia.

New properties are entering the market after years of a supply slowdown. Sydney has 17 new hotels, which were either opened or extended in 2017. These include the 136-room Mantra Hotel at Sydney Airport, the 209-room Travelodge Mascot, the 590-room Sofitel Darling Harbour, the 182-room Curio Collection by Hilton-West Hotel Sydney, the 119-room Holiday Inn Sydney St Marys and the 88-room extension of the Mercure Sydney Liverpool. The new properties added 2,437 guestrooms to the market.