Action plan encouraging new hotel developments
The City of Sydney leads Australia’s accommodation market with more than 23,300 rooms. The market is dominated by four and five star rooms, with only 16 per cent of rooms rated 3.5 star and below. There is increasing demand for three star options, particularly from the growing number of Asian visitors.
Research carried out by Jones Lang La Salle, predicts that 5,800 new hotel rooms will be opened in the next seven years. Around half of these are already in the development pipeline.
The City has released a Draft Visitor Accommodation Action Plan which was prepared in collaboration with Tourism Accommodation Australia, the Property Council, the Tourism Transport Forum, Tourism Australia, NSW Trade and Investment and Department of Planning and Environment.
Objectives of the Plan include to:
- Provide a positive environment for investment in visitor accommodation
- Identify and, where possible, remove planning system barriers to investment and development
- Assist demand led supply of new accommodation
- Encourage a more diverse sector
- Continue to contribute to tourism demand and the tourist experience through public domain works, events and partnerships as outlined in the Tourism Action Plan 2013
Initiatives under the Plan include the City developing investment liaison procedures and publishing a development guide to assist investors identify development sites and negotiate the planning system.
The Property Council welcomes the objectives and initiatives set out in the Plan.
For more information read City of Sydney media release. To access the Draft Visitor Accommodation Action Plan.