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Horwath HTL has released their latest data report for October 2024, and shows some interesting growth and decline stats.
Queenstown’s hotel sector shows significant growth, in contrast to Auckland’s declining performance.
Nationwide, New Zealand hotels saw a 5.4 per cent drop in revenue per available room (RevPAR) compared to last year, but Queenstown’s hotels led with a 14.8 per cent RevPAR increase due to a strong boost in occupancy and rates.
While Queenstown’s occupancy rose to 71 per cent, with average daily rates up by 7.4 per cent to $286, Auckland experienced a 19.5 per cent RevPAR drop.
Auckland’s challenges are from a 7.9 per cent increase in room supply with weakening demand, with occupancy falling from 73 per cent to 64 per cent, and ADR slipping 7.8 per cent to $198. In addition, domestic arrivals at Auckland Airport dropped by 2 per cent, as some travellers chose Christchurch and Queenstown.
Despite events like the Diwali Festival, Auckland’s hotel market struggled to offset the decline in both domestic and international visitor nights.
Nationally, New Zealand’s hotel sector remains hopeful, with long-haul flight capacity expanding for the summer season, aiming to boost the sector.
