Hotels in Australia: a tale of booms and buts

Mike Mcvey ^[1] ; Brian King ^[1]
1. [1] Victoria University
  
  Victoria University
  
  Australia
Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 12, Nº 2, 2006, págs. 225-246
Idioma: inglés
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Resumen
- This paper reviews the development of Australia's hotel sector over a 15-year period and uses that analysis as the basis for suggesting the likely shape of future developments. The underlying dynamics of hotel development and subsequent performance are shown to reflect a continuing pattern of boom and bust. The late 1980s were characterized by a building boom in the lead-up to the Bicentennial and World Expo celebrations. This was soon followed by a bust during the recession of the early 1990s. In the lead-up to the 2000 Olympics, another building boom occurred, particularly in Sydney, leading to a predictable oversupply of rooms and subsequent stalling of construction during 2003. A change has been evident among developers, who are moving away from their view of hotels as a component of commercial property development towards a stronger connection between inner-city residential apartment developments and hotels.