TAA OZ HO­TEL BOOM

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THE mas­sive 120 ho­tel projects in the pipe­line in Aus­tralia will open the coun­try up to a new au­di­ence of busi­ness trav­ellers, con­fer­ence and in­cen­tive groups and high-end tourists, Tourism Ac­com­mo­da­tion Aus­tralia says. Be­tween 2016 and 2021, new ho­tels will ac­count for a 30% growth in stock, a surge which hasn’t been seen since be­fore the 2000 Olympics. The room boost be­tween 1998 and 2000 was fol­lowed by a dra­matic bust, but TAA be­lieves the cur­rent boom will be soaked up due to a unique com­bi­na­tion of cir­cum­stances and the at­trac­tion of new mar­kets. TAA said the open­ing of ICC Syd­ney (pic­tured) had trig­gered a revo­lu­tion in the city’s ho­tel stock, af­ter a ‘drought’ that fol­lowed the 2000 Olympics. Cur­rently $2.3b worth of ho­tel projects have been ap­proved for the Syd­ney city area.

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