Hotel shortage costs Queensland $114m each year

Brisbane Marketing Shoot- Urban Precinct, SouthbankLord Mayor Quirk yesterday announced the details of the latest Guide to Hotel Investment for Queensland.

The figures reveal that Brisbane loses around $114 in potential business each year as a result of its shortage of high-end hotel accommodation. Asa result, Lord Mayor Qurik said, the hotel market is rich with opportunity:

  • Due to a shortage in internationally-recognised, full-service hotel room supply, Brisbane is forgoing about 121,000 visitors a year.
  • The shortage is causing the market to defer an estimated 278,000 room nights every year – about 14 per cent of current demand.
  • The deferred economic benefit is largely contributed to the lack of hotel supply which in turn is hampering Brisbane’s ability to attract major events and conferences. This lost visitor expenditure equates to about 1100 jobs and $114 million in economic activity.

THe lor Mayor appeard with Qld Minister for Small Business Jann Stuckey.

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