There were mixed result across the major hotel markets in 2018 as demand growth slowed and supply increases impacted occupancy levels.
A generally weak year for events across the country resulted in a slowdown in demand growth for hotel rooms. Despite the lack of events in 2018, international visitor arrivals increased by 3.5% for the year and visitor nights in commercial accommodation increased by 2.3%.
While there has definitely been a slowdown across the market, it is important to note that demand continues to improve however at lower rates than for the past four years.
2018 showed the impact that relatively small increases in supply can have on hotel markets and the importance of events to boost demand particularly with the potential for a high number of new hotels to be built.