Sydney’s accommodation boom is set to continue in 2018 with sky high confidence in the NSW visitor economy and increasing occupancy rates attracting new hotel investment.
NSW Minister for Tourism and Major Events Adam Marshall said hotel occupancy rates in Sydney have increased to 88.2 per cent according to the latest figures from STR Global for the September Quarter 2017.
“Demand from increasing visitor numbers to Sydney is set to continue and the industry is responding with 7,100 new and refurbished hotel rooms under construction or approved for development and open for business by 2022,” Mr Marshall said.
“A record 35.1 million international and domestic overnight visitors came to NSW in the year ending September 2017, who stayed 194.5 million nights, up eight per cent on the previous year.
“Fueled by record investment from the NSW Government, our visitor economy is continuing to grow and attract huge investment from the hotel sector which is seeing more holiday-makers seeking a broader range of accommodation options and importantly putting more travelers’ heads on beds across the State.
“In 2017 the Sofitel Sydney Darling Harbour as well as the Mantra and Travelodge hotels at Sydney Airport, opened with great success and brands like the West Hotel and Curio Collection by Hilton Hotel are entering the Australian market for the first time and choosing Sydney to launch.
“The exciting new properties continue to enhance Sydney’s reputation as Australia’s number one city for tourism and major events driving more visitation to our Harbour City and beyond into rural and regional NSW which is a win right across the State.”
In 2018, properties including the Four Points by Sheraton Sydney at Central Park, and The William Inglis MGallery by Sofitel at Warwick Farm are scheduled to open, while construction continues for the 2019 openings of the grand Wanda Vista Hotel at Circular Quay and W Hotel at Darling Harbour.