Event cancellations to hit resilient hotel sector

Original article by Larry Schlesinger
The Australian Financial Review – Page: 35 : 13-Mar-20

Sydney and Melbourne hotel rooms experienced vacancy falls of around 20 per cent in the first week of March when compared to the same time in 2019, according to research company STR. STR was making a presentation on the impact of COVID-19 thus far, with hotels in Asia and parts of Europe seeing a much greater impact than Australian hotels. However, STR expects COVID-19 to have a much greater impact on the Australian hotel sector in coming months, due to the likelihood of major events being cancelled and the prospect of restrictions being imposed on domestic travel.

CORPORATES
STR GLOBAL LIMITED

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