THE PROPERTY DEVELOPMENT REVIEW
Given the time it takes for hotel construction and the likely viability of new hotel projects coming to fruition, we anticipate that supply growth will not materially accelerate until 2029/2030. With demand recovering and government and industry setting new visitation targets for the next decade, investors will have the confidence to invest, and we expect Australia’s hotel market to deliver strong returns, as was evidenced in the decade prior to the pandemic.
October / November 2024 – 137
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