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Hotels in Australia 1988–2003: A Tale of Booms and Busts

Author

Listed:
  • Brian King

    (Centre for Hospitality and Tourism Research, Faculty of Business and Law, Victoria University, PO Box 14428 MC, Melbourne, Victoria 8001, Australia)

  • Mike McVey

    ((At time of writing) Centre for Hospitality and Tourism Research, Victoria University, Australia.*)

Abstract

This paper reviews the development of Australia's hotel sector over a 15-year period and uses that analysis as the basis for suggesting the likely shape of future developments. The underlying dynamics of hotel development and subsequent performance are shown to reflect a continuing pattern of boom and bust. The late 1980s were characterized by a building boom in the lead-up to the Bicentennial and World Expo celebrations. This was soon followed by a bust during the recession of the early 1990s. In the lead-up to the 2000 Olympics, another building boom occurred, particularly in Sydney, leading to a predictable oversupply of rooms and subsequent stalling of construction during 2003. A change has been evident among developers, who are moving away from their view of hotels as a component of commercial property development towards a stronger connection between inner-city residential apartment developments and hotels.

Suggested Citation

  • Brian King & Mike McVey, 2006. "Hotels in Australia 1988–2003: A Tale of Booms and Busts," Tourism Economics, , vol. 12(2), pages 225-246, June.
    • Handle: RePEc:sae:toueco:v:12:y:2006:i:2:p:225-246
    DOI: 10.5367/000000006777637476
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