The recent Dransfield Hotel Futures report on the hotel industry commented on “Underwhelming rate growth for a third straight year despite occupancy being maintained above 86%”. It went onto say “the city remains effectively full Monday through Thursday and Saturday nights.”
The new ICC Sydney is expected to open in December of this year with facilities capable of hosting three separated, self-sufficient, concurrent events as well as an 8000 seat plenary. While there will be an additional luxury hotel of 600 rooms any major event is going to put severe pressure on Sydney’s accommodation
The implications for the CBD conference market in 2016 is that residential conference space will need to be secured well in advance to avoid disappointment in accommodation availability and/or price. Any major event in the city will have an impact so timing will be everything. The situation will only deteriorate in 2017. Mike Schrafft – Director
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