The tourism sector in general experienced a strong first half to the financial year. Our industry is enjoying healthy support with many Australians holidaying at home and strong Chinese inbound trends also continue, with international visitor spending Down Under at record levels.
These trends continued with Chinese New Year celebrations in February. These vibrant festivities are now an important event in the tourism calendar and it was wonderful to witness Australia embrace these celebrations by theming services and joining our guests in saying “Gong Xi Fa Cai!” - Welcome, year of the Fire Monkey!
In Chinese culture, this particular lunar year is said to comprise aspects that symbolize ambition and adventure. With a similar philosophy, Mantra Group forged into the first half of the financial year adding nine new hotel acquisitions in key destinations, to our growing network. I am inspired by our team members that embrace these new challenges and I have received excellent feedback from our guests as they sample the new properties. These additions add to our guest network and help build occupancy and rate across all of our properties as guests seek out the Mantra Group options as a preference.
Following the announcement of Mantra Groups half year results, I am pleased to report the following highlights;
CBD SEGMENT – HIGHLIGHTS
Strong occupancy was maintained within the CBD segment. Occupancy increased by 0.4% following strong conference business and special events in Sydney, Melbourne and Canberra, however this was offset by lower occupancy in regions where infrastructure and resource projects were the key drivers (Brisbane, Perth and Darwin). RevPAR (revenue per available room night) decreased marginally (0.6%) due principally to a reduction in demand in these regions, which resulted in reduced average room rates. Excluding these regions, occupancy and average room rate increased by 2.0% and 2.9% respectively.
RESORT SEGMENT – HIGHLIGHTS
Period on period growth was also achieved in the Resorts segment. Occupancy increased by 4.7% as a result of increased demand for Australian holidays from both domestic travellers as well as an increase in international travellers taking advantage of low cost carriers. Average room rate also increased by 9.2% as a result of increased demand, particularly in Queensland destinations.
Our teams are all engaged in delivering on the key initiatives we set out to achieve at the start of the year and with a positive industry outlook to capitalise on, we have a strong foundation in which to accomplish a fruitful year.
CEO – Mantra Group